It is legal. Elon Musk has finally bought 100 per cent on Twitter for an estimated $ 44 billion; about $ 54.20 per share, and it’s all money. The microblogging domain was reviewing Musk’s offer a few weeks ago. Musk previously said Twitter has “incredible power” and wants to unveil it all.
Commenting on the acquisition, Parag Agrawal, CEO of Twitter, said, “Twitter has a purpose and a global impact. We are very proud of our teams and motivated by work that has never been more important. “The Twitter board has developed a well-thought-out and comprehensive process; to evaluate Elon’s proposal by deliberately focusing on price, assurance, and funding. Taylor, Chair of the Twitter Independent Board.
Earlier this month, Musk bought 9.2 per cent on Twitter. This made him the second-largest shareholder in the company, the first being Vanguard with a 10.3% stake in the company. Later, Twitter CEO, Parag Agrawal, welcomed Musk to join the board but the millionaire rejected the request. The tug-of-war between Elon and Twitter has been going on ever since.
The changes Musk is expected to bring
It all started last month when Musk asked users on Twitter if they should launch a new social media platform as Twitter “does not seize the right to free speech”. In this case, many users say they should buy Twitter instead. A Tesla official also lamented that Twitter violates the right to free speech; which is believed to be the first thing he will address as the owner of Twitter.
A few years ago, a millionaire used to ask Twitter to shut down certain words, including former US President Donald Trump. In fact, there was a time when the forum accused Musk of violating the Twitter rules and guidelines for coronavirus-related tweeting information. As Musk often speaks on Twitter in opposition to “freedom of speech”, one of the first changes can be seen in content ratings.
Elon Musk Twitter: Tweets
Musk recently wrote on Twitter, “Free speech is essential to a functioning democracy. Do you believe Twitter adheres strictly to this policy?” About 70 per cent of the 2 million respondents answered NO.
Second, with Musk becoming the owner of Twitter, we can get an edit button soon. However, Twitter has already confirmed that it is testing the editing option. Earlier this month, the company said it would explore the pre-screening option with Twitter Blue subscribers, followed by a steady release. Musk can help with the early release of the edit button for sure.
Another area where Musk is expected to work diligently is deleting spam accounts or spambots, like him “which is” very annoying “on Twitter. A few years ago, fraudsters impersonated Musk using fake accounts in an attempt to get people to withdraw cryptocurrency. By 2020, Musk’s account was among the top Twitter accounts hacked to push the bitcoin scam.
The CEO of Tesla recently stated that microblogging was spending more time on profile photos depicting immovable tokens, and blockchain-guaranteed assets, rather than fixing crypto spambots. “Twitter uses engineering resources in this bs while crypto scammers throw a spambot block team across the line !?” he said in a tweet.
Finally, with Musk now the owner, we can also see Twitter with open source. It has become a relatively open-source platform as some of its technologies are already publicly available. But at a recent TED conference, Musk said Twitter should be an open-source as “there is no form of deception behind the scenes, either algorithm or manually.”
Terms of Reference and Finance
The transaction, unanimously approved by the Twitter Board of Directors, is expected to close in 2022, subject to the approval of Twitter shareholders, the acquisition of effective regulatory approvals and the satisfaction of other common closing conditions.
Mr Musk has secured $ 25.5 billion of fully committed debt and margin loan funding and provides approximately $ 21.0 billion in commitment. There are no financial conditions for closure.
For more information on all of the terms and conditions contained in the final performance agreement, please refer to the Current Twitter Report of Form 8-K, which will be posted about the job.
First Quarterly Profit Results for 2022 Twitter plans to release its results for the first quarter of the 2022 financial year before the market opens on April 28, 2022. In line with the expectations announced today, Twitter will not be holding a corresponding conference call.
Elon Musk Twitter: Counsellors
Goldman Sachs & Co. LLC, J.P. Morgan, and Allen & Co. acted as financial advisors on Twitter, while Wilson Sonsini Goodrich & Rosati, Professional Corporation and Simpson Thacher & Bartlett LLP acted as legal advisers. Morgan Stanley serves as the lead financial advisor to Mr Musk. BofA Securities and Barclays also serve as financial advisers. Skadden, Arps, Slate, Meagher & Flom LLP serves as legal counsel.
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Actions or control permissions required to end Actions are not available; Potential transactions related to Transactions; uncertainty about the time of completion of Actions; each team’s ability to complete the task; possible disruptions related to Transaction to current Twitter programs and activities, including loss of customers and employees; and other risks and uncertainties described in periodic reports of Twitter-owned Twitter files, including the Form 10-K Twitter Annual Report submitted to the SEC on February 16, 2022, which can be found in the Investor Relationship section on Twitter (https://investor.twitterinc.com).