At the end of much speculation, Twitter finally announced that they were selling the company to Elon Musk in exchange for $43 billion. On Monday, Twitter revealed in a statement that they had accepted the offer of a $43 billion takeover bid by Elon Musk.
On the other hand, Twitter's CEO, Parag Agarwal, announced plans to take the company private within a few days after the transaction became successful. Both the shareholders' and regulators' approvals are mandatory.
Elon Musk has had to go through many dramatic circumstances to buy Twitter. After the purchase of Twitter's 9.2% shares at the beginning of April, the noise on this social network continues to grow. Elon Musk's latest and final proposal was $54.20 per share, which estimates that the price of the entire company is nearly $43 billion. Later, of course, Elon has to face legal problems filed by the United States Security Exchange Commission. The claim of the SEC was to disclose Twitter's investment within a few days, but he failed to publish it.
Nevertheless, Elon Musk questioned Twitter's lack of freedom of speech and transparency at the beginning of the month. According to him, most of the widely followed Twitter accounts are inactive and rarely tweet. On the other hand, the Twitter Edit button created phenomenal gossip among its influencers and users. The edit button is also on its way, as Elon Musk made noise about the edit tweet feature.
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On the other hand, Twitter announced the exact time to appoint Elon Musk as director. The following flurry of criticism against Twitter is determined to review and put him on a board of directors. Unfortunately, Elon Musk had second thoughts and rejected being on the board of directors of Twitter.
Earlier this week, Twitter immediately adopted a "poison pill" share strategy to prevent Twitter's hostile takeover of their shares. However, Twitter was uninterested in Elon Musk's acquisition pitch. Lateral, they reconsider and sit in the meeting again to stare at Elon Musk's deal; this time, Twitter finally accepted Musk's buyout deal. They are also aware of the need to get finer details, such as a financial guarantee if the transaction fails.
What Elon musk could do with Twitter
In the days following Elon Musk's purchase of Twitter, rumors and speculation began to circulate, including what Twitter would do next.
But let me tell you, Elon Musk gave priority to some of his disliked aspects before buying Twitter, such as that Twitter is not an open-source platform, Twitter's algorithm is not transparent, Twitter does not allow free speech, and so on.
Freedom of speech is a crucial issue in the case of democracy, and Twitter is the modern focal point where the next generation of debates will dominate. According Elon Musk, he wants to further enrich the social company by adding lots of new features and open-source algorithms to build trust, counteract fake spambots and authenticate all humans. Twitter has a lot of potentials, and Elon wants to take advantage of those opportunities by working with the company and its community to unlock them.
Twitter buyout controversy
We're likely to notice considerable gossip and controversy about the Twitter takeover. However, it started with US former president Donald Trump's Twitter account speculation. As Elon Musk's motto was free speech, getting back to the banned Trump Twitter account became one of the trending topics. However, there's still no statement made by the company so far. And Trump has also confirmed that he won't return to this social networking platform, whatever his account is reinstated.
On the other hand, people used to refer to how they are unlikely to trust someone else who can spread false and misleading information through the level of freedom of speech.
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What to expect from Elon musk?
- Returning to Donald J. Trump's Twitter account
- New Tweet Editing Option
- Make the company private
- Modify the regulation guidelines.
Musk just bought Twitter, so people are now wondering what he will do next. As soon as Elon Musk bought Twitter, he announced it would become a private company. However, in this case, the approval of many regulators is still pending.
Elon Musk's next big step is changing the company's policies and algorithms. As we've said before, Elon Musk wants Twitter's algorithm to be transparent and allow everyone to speak freely. In this case, Elon Musk stated that his worst critics would remain on the platform, and that is freedom of speech.
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