Elon Musk bought Twitter for $ 44 billion

Musk believes he can “unlock” the potential Twitter-a.

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The committee finally agreed

Twitter accepted the offer Elon-a Musk-a. Musk buys social media giant for $ 54.20 per share, or about $ 44 billion. With this move, the CEO of Tesla will privatize the company. He also said he plans to upgrade Twitter by protecting freedom of speech, open source algorithms, fighting spam bots and “authenticating all people.”

Twitter-ov the board unanimously approved the purchase. The business is expected to close during 2022, although this will depend on the approval of regulators and shareholders.

Tesla’s CEO bought 9.2 percent of the shares in early April Twitter-a, after criticism of the company’s freedom of speech policy. He claimed that Twitter was not fulfilling its duties as a “de facto public city square”.

Twitter quickly said that Musk would join the company’s board of directors, but then Musk decided to reject the invitation a few days later. Although he did not say why he changed his mindthe appointment of a board would prevent it from owning more than 14.9 percent of the companythat is, he could not take full control during his term.

Big changes await Twitter?

Twitter was initially cautious and adopted a “poison pill” strategy to prevent a hostile takeover. The two sides are believed to have released minor details at the last minute, such as financial guarantees if the purchase falls apart.

In a statement, the independent chairman of the board Twitter-a Bret Taylor said the company agreed to the buyout after an audit process that focused on “value, security and financing”.

Musk continues to face problems after this decision, including an investigation SEC-a on insider trading and a class action lawsuit accusing him of holding back shareholders for some time when he revealed his investments in Twitter-u. Redemption Twitter-a it will not help him avoid these accusations.

It will not be surprising if there is a significant change in the social network and that will only mean that Musk will now compete with Meta-om, Snap-om, TikTok-om and other large technology companies.

Also, employees in Twitter-u they might be a little less enthusiastic. According to reports New York Times-a employees are generally unaware of what the sale will mean for them and their shares in the company.

They are also worried that Musk could undo years of efforts to combat “toxic” material. Some are even excited. According to some sources there is a chance that some workers Twitter-a could resist any significant changes.

Source: Engadget

Source: PC Press by pcpress.rs.

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