Elon Musk Reaches an Agreement to Buy Twitter for About $ 44,000 Million

El empresario dueno de Tesla ya era propietario de mas de un 9% de los titulos de la red social. Entrepreneur Elon Musk has reached an agreement to acquire Twitter for approximately $44 billion, the company said Monday.

Musk has stated that he wants to buy Twitter because he doesn’t think the social network is living up to its promise to serve as a platform for free expression.

In news reports from early Monday, it was revealed that Twitter’s board of directors was negotiating with the owner of the Tesla company about the possibility of buying the social network.

The New York Times, citing unnamed sources with knowledge of the situation, reported early Monday that the two sides were discussing details such as a timetable and fees to be paid if the deal doesn’t go through.

Twitter had taken steps to prevent a purchase by making it prohibitively expensive. But the board of directors, seeing that Musk had secured the financing, changed its mind, according to The Wall Street Journal, which was the first to report on the negotiations.

Last Sunday it came to light that Twitter was reconsidering the offer made by Musk to take over the company, The Wall Street Journal (WSJ) reported on Sunday.

The New York newspaper, which quoted anonymous sources familiar with the matter, pointed out that the social network was re-analyzing Musk’s proposal after the founder of Tesla announced this week that he has 46.5 billion dollars in financing to carry out the project. operation.

Twitter, according to those same sources, was finalizing an estimate of the value of its business and could insist on certain conditions to accept Musk’s proposal, including that the buyer cover financial protections in the event that an agreement is reached and finally the operation is not closed.

According to the WSJ, in recent days, Musk has met privately with several major Twitter shareholders to present his proposal, which would have convinced several of them.

The considered richest man in the world launched an offer of 43,000 million dollars for the company on April 14, at a rate of 54.20 dollars per share, compared to a current price that is below 49 dollars.

Last week, in documents provided to regulators in the United States, Musk said the money would come from Morgan Stanley and other banks, putting up his stake in Tesla as collateral.

Musk already owns more than 9% of the titles of Twitter, a social network in which he is very active, but where he denounces the existence of freedom of expression problems that, according to what he has said, he wants to solve.

After that, in early April, Musk launched a Twitter poll on whether users want the button. More than 4 million people voted.

After the survey, the company confirmed that it had been working on an option to edit already published messages for a year, although it will start testing that function in its paid service, Twitter Blue, before it reaches all users.

Days later, as Twitter’s newest board member and largest shareholder, Musk began pitching suggestions for changes he’d like to see on the platform.

The SpaceX CEO also said the company should include the “authentication dove” as part of its premium Twitter Blue service, which costs $2.99 ​​a month.

Musk also suggested that Twitter make the authentication marks of premium subscriber accounts different from those given to official accounts of public figures, for example.

Musk is the wealthiest person in the world, with an estimated worth, according to Forbes magazine, of 279,000 million dollars. But much of his fortune is tied up in shares of Tesla — he owns 17% of the company, according to FactSet — and of SpaceX, his space travel company. It is not known for sure how much liquid money Musk has.

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Elon Musk Reaches an Agreement to Buy Twitter for About $ 44,000 Million - /10

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El empresario dueno de Tesla ya era propietario de mas de un 9% de los titulos de la red social. Entrepreneur Elon Musk has reached an agreement to acquire Twitter for approximately $44 billion, the company said Monday.

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