News

Twitter Accepts Elon Musk’s Acquisition Offer

SAN FRANCISCO, April 26 (Bernama) — Twitter announced on Monday it has accepted Tesla CEO Elon Musk’s offer to acquire the company at US$54.20 a share, valuing the social media platform at US$44 billion.

“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” Twitter’s Independent Board Chair Bret Taylor said, reported Xinhua.

“The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders,” he added.

The company said that the transaction was unanimously approved by the board, and it might likely close this year following shareholder and regulatory approval and “the satisfaction of other customary closing conditions”, adding that It’s not a done deal until the matters are resolved.

Musk repeated his refrain that “free speech” is key to Twitter’s future. “I hope that even my worst critics remain on Twitter because that is what free speech means,” he tweeted.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk noted in Twitter’s statement announcing the deal.

“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” he added.

Sources: BERNAMA

Adib Mohd

Recent Posts

SEACare 2025 Solidifies Malaysia’s Leadership in Southeast Asia’s Healthcare Landscape

Malaysia’s commitment to transforming its healthcare system takes centre stage this week as SEACare 2025,… Read More

1 day ago

Drop: A First Date That Turns Into a Psychological Minefield

What happens when trust, trauma, and tequila meet at the same table?  That’s the unnerving… Read More

2 days ago

SME Bank Collaborates with Autism Cafe Project to Empower Autistic Entrepreneurs

Small Medium Enterprise Development Bank Malaysia Berhad (“SME Bank”) has partnered with The Autism Cafe… Read More

2 days ago

Pahlawan Malaysia 2025: Malaysia’s Premier Obstacle Sports Competition Set to Energize the Nation at the Curve, Mutiara Damansara

The Malaysia Obstacle Race Sports Association is proud to announce Pahlawan Malaysia 2025, the premier… Read More

2 days ago

Tesla Malaysia is Celebrating the ‘Earth Week’ to Rewards Owners in Conjunction with a ‘Refer and Win’ Campaign

Embracing the mission to accelerate the world’s transition to sustainable energy, Tesla Malaysia launches the… Read More

2 days ago

Malaysia’s Viper Niza Racing On The Winners’ Podium At The 12 Hours Of Spa Francorchamps

Malaysians Douglas Khoo, Dominic Ang and Melvin Moh raced to a podium finish at last… Read More

2 days ago

This website uses cookies.