Finally, finally the board of Twitter has agreed to a $44bn (£34.5bn) takeover offer from the American billionaire Elon Musk.
The billionaire , who made the shock bid less than two weeks ago, said Twitter had “fantastic potential” that he would unlock them all
Elon Musk also called for a series of changes from relaxing its content restrictions to clearing fake accounts. The firm initially rebuffed Elon Musk’s bid, but it will now ask shareholders to vote to approve the deal.
Elon Musk is so far the richest man in the working according to Forbes magazine, with an estimated net worth of $273.6bn mostly due to his shareholding in electric vehicle maker Tesla which he runs. Mr Musk also leads the aerospace firm SpaceX.
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,” The billionaire said in a statement announcing the deal.
“I will 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,” he added.
According to the billionaire, Twitter has marvelous potential – I look forward to working with the company and the community of users to unlock it.”
Bret Taylor, chair of Twitter’s board, said it had full assessed Elon Musk offer and it was “the best path forward for Twitter’s stockholders”.
Under the deal, which is expected to close later this year, Twitter’s shares will be delisted and it will be taken private.The billionaire has suggested this will give him freedom to make the changes he wants to the business and again the billionaire added it has always been his dream and is now reality.
