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Elon Musk acquires Twitter for $44 billion
April 27, 2022
American business tycoon Elon Musk reached an agreement to buy Twitter for roughly $44 billion around ₹3,365 crore on Monday. Musk had first announced a succession bid on April 13, and in SEC filing had called it his ‘best and final offer.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humankind are debated. I also want to make Twitter better than any time in recent memory by upgrading the products with new features, making the algorithms open-source to increment trust, defeating the spambots, and authenticating all humans. Twitter has tremendous potential – I anticipate working with the organization and the community of users to unlock it,” Musk said in a press statement posted on his Twitter account.
The deal is expected to close at some time this year. However, before that, investors actually had to weigh in, as well as regulators in the US and in nations where Twitter carries on business before the deal is completed.
The cycle is looking great so far for Musk, considering that Twitter’s board has consistently supported his proposition and is suggesting investors do likewise.
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