Twitter on Monday confirmed it is selling the platform to billionaire entrepreneur Elon Musk in a deal valued at $44 billion.
The sale was a dramatic shift for the board, which had originally maneuvered to block Musk from taking the social media network private.
“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 said in a joint statement announcing the takeover.
Musk had taken a major stake in the firm earlier this month before lining up last week some $46.5 billion in financing to push forward with the purchase.
Taylor said the body “conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” according to the statement.
“The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”
The polarizing Tesla chief’s campaign to buy the social media giant sparked concern that his unpredictable statements and alleged bullying are contradictory to his stated aims for the platform. (AFP)
News Update THE Governorship Candidate of the All Progressives Congress (APC) in the forthcoming governorship…
Hopecentre International Foundation has celebrated a decade of transformative progress towards advancing the service to…
... Sympathises with Victims of Osogbo Rainstorms The Gubernatorial Candidate of the All Progressives Congress,…
News Update THE Senior Special Assistant to the President on National Assembly Matters, Hon. Ibrahim…
Dr Kayode Fayemi, immediate past Governor of Ekiti State and former Chairman of the Nigerian…
The Small Alhaji Media Team has observed with utter amusement the flood of reactions and…