World richest man, Elon Musk has strucked a deal on Monday to buy Twitter for $44 billion while capping a saga complete with hostile takeover threats, emphasized on free-speech.
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.
“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 statement released by Twitter.
“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 board chair Bret 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.
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