Elon Musk completed a $44 billion acquisition of micro-blogging site Twitter on Thursday evening, the report said.
a report by insider Twitter and Musk on Thursday evening formally closed the billionaire’s offer by paying the company $54.20 per share, or about $44 billion privately, on Thursday evening, the sources said.
After months of attempting to back out of the deal, Musk reversed his position on the offer in October. That same evening, Musk fired CEO Parag Agarwal and CFO Ned Segal. Chief Legal Officer Vijaya Gadde has also resigned.
Hours before the acquisition, Musk issued a ‘reassuring’ message to Twitter advertisers, emphasizing that the site cannot become a ‘free-for-all hell’ where nothing can be said without consequences. .
Dear Twitter Advertiser pic.twitter.com/GMwHmInPAS
, Elon Musk (@Elon Musk) 27 October 2022
“I acquired Twitter because having a shared digital town square is vital to the future of civilization where a wide range of beliefs can be debated in a healthy way, without resorting to violence,” Musk said in the message. ” “There is a great danger at present that social media will split into far-right and far-left echo chambers that create more hatred and divide our society,” he had said.
According to an insider report, Musk is meeting with employees at Twitter’s San Francisco headquarters this week and has a sudden chat with them at the cafe. On Wednesday, he entered the building carrying a large bathroom sink, “sinking” that he was Twitter’s new CEO. An all-party meeting is to be held with the employees on Friday.
In the coffee bar of Twitter Headquarters,@Elon Musk pic.twitter.com/vy5Cw7zttf
— Walter Isaacson (@WalterIsaacson) 27 October 2022
The new settlement against Musk over the $44 billion buyout will expire after Twitter files to dismiss the case in the Delaware Court of Chancery, according to University of Michigan business law professor Eric Gordon.
Musk also updated his Twitter description to a “chief tweet.”
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