SpaceX chief Elon Musk has achieved what she set out to do. A leading social media giant has bought Twitter. He announced that he was ready to buy Twitter for free speech (freedom of speech). So part of his strategy was to acquire Twitter using peacekeeping tactics.
Elon Musk, the world's most sought-after microblogging site on Twitter, owns the entire company. The Twitter board unanimously approved the deal. The takeover is valued at approximately $ 44 billion. The share purchase price is $ 54.20. The initial pressure on Twitter's ownership was further heightened when Musk announced that it had also prepared $ 46.5 billion in funding for the takeover. This was discussed with Musk on Monday. Musk, the founder of American electric car maker Tesla, is currently worth more than $ 279 billion. He owns 17% of Tesla.
High Drama...
Musk has been criticized for years for saying that Twitter, a platform for freedom of speech and expression, is now working against those goals. It recently bought a 9.2 percent stake for $ 2.9 billion with the intention of tidying up the company if it becomes a shareholder on Twitter. Thereby securing the opportunity to be appointed as Director. But the director refused the status as he was unable to raise the shares beyond a certain percentage if that status was taken. After that, it was announced that the company would buy the whole thing together. It paid a total of $ 43 billion at $ 54.20 per share and offered to take over. However, Twitter ownership tried to prevent this. Has implemented a strategy called Poison Pill to turn takeover into an expensive affair that is impossible to do. But Musk announced last week that he had already prepared the funds and that the takeover was undeniable. Musk told the U.S. market regulator that Morgan Stanley was raising funds from other banks by mortgaging his stake in Tesla. This made it inevitable for Twitter ownership to discuss the takeover with Musk.
What can Musk do now...
He has made several proposals in the past to reform Twitter. Users expect to be able to run them after the takeover. These include easing restrictions on content (regulations that led to the termination of their accounts, such as those of former US President Donald Trump, etc.), deleting fake ... automated accounts, and setting up an edit button.
This is the story of Twitter...
The American microblogging and social networking service Twitter was founded in 2006 by Jack Dorsey, Biz Stone, Evan Williams, and Nova Glass. It is intended to be used to express opinions concisely in a few words. It is currently headed by Parag Agarwal, an expatriate Indian. Although the number of Twitter users is low compared to competing companies such as Facebook and Tic Tac Toe, it is still widely used by celebrities, world leaders, journalists, and intellectuals. Musk itself has 8.1 crore users. Twitter had more than 20 million users in the second quarter of last year. The highest surplus was 7.7 crore in the United States and 2.36 crore in India.
Shares..: With the news of the purchase, Twitter Shares traded 5.5 percent higher at $ 51.63 in intraday trading on Monday.
Brett Taylor, CEO of Twitter Co.
Twitter co-CEO Brett Taylor has reacted to reports that Elaine Musk has bought Twitter for $ 44 billion. Elaine Musk opined that buying Twitter was the best way for stockholders. Shares of Twitter rose 3 percent on news that Musk was buying Twitter.
Comments
Post a Comment