According to new claims, Elon Musk will buy Twitter for $43 billion in cash. Dogecoin, the popular meme coin, has risen more than 12% in the last hour following news that Twitter is set to finalize an agreement with Tesla and SpaceX CEO Elon Musk today.
Elon Musk will buy Twitter for $43 billion in cash: Dogecoin has risen more than 12% in the last hour following the news
Elon Musk has agreed to buy Twitter for $44 billion in cash, using one of the most leveraged buyout transactions in history to take private a 16-year-old social networking platform that has become a hub of public debate and a flashpoint in the war for online free expression. According to a statement made by the company on Monday, investors will receive $54.2 for each Twitter share they possess.
The price is 38% higher than the stock’s close on April 1, the last business day before Musk declared a significant stake in the company, causing the stock to surge.
Musk has put aside $46.5 billion for the acquisition of Twitter, according to a recent filing on April 21. According to Reuters, Twitter is planning to sell the company for $43 billion in cash.
A follow-up to Musk’s April 4 announcement of a 9.2 percent stake in Twitter began with these reports this week. He increased the ante ten days later, proposing to acquire the entire company.
Musk said at a TED Talk in Vancouver, “Twitter has become the de facto town square.” “It’s critical that people have the reality as well as the perception that they can speak freely within the confines of the law.”
He stated that an edit button that would allow users to amend errors or change their tweets could be implemented in a reasonable amount of time. Twitter’s source code would also be made available on GitHub, allowing the public to examine how the platform works.
After reducing the threat to humanity, he will focus on removing the spambots that are wreaking havoc on Twitter. “I just think it’s important to the function of democracy in the United States and other countries. The civilizational risk is decreased if we can increase the trust in Twitter as a public platform,”.
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