As per the news, Elon Musk will buy Twitter for $43 billion in cash. Dogecoin, the well-known meme coin, has raised its value by more than 12%. Twitter is set to finalize an agreement with Tesla and SpaceX CEO Elon Musk today.
Elon Musk has agreed to acquire Twitter for $44 billion in cash, using one of the most capitalized buyout transactions in history to take private a 16-year-old social networking platform that has become a pivot 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, on Tuesday, Musk declared a significant stake in the company, causing the stock to flow.
The amount of $46.5 billion has already been kept aside for the acquisition of Twitter, according to a news release on April 21. Reuters believed Twitter is planning to put on sale the company for $43 billion in cash.
A follow-up to Musk’s April 4 announcement of a 9.2% stake in Twitter began with these reports this week. He increased the cost ten days later, proposing to acquire the entire company.
Musk said, “Twitter has flatter 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 permit users to amend errors or change their tweets could be applied in a rational amount of time. Twitter’s source code would also be made available on GitHub, allowing the public to examine how the platform works.
After slowing down the threat to humanity, he will keep an eye on removing the spambots that are creating 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,”.