Elon Musk has clinched a deal with Twitter to buy the company and take it private.
Reuters reported on April 25th that though Musk’s offer seemed likely to be refused over the weekend, the billionaire managed to convince shareholders to let him buy the social media giant at his offer of $54.20 per share.
Musk had filed to buy the company on April 14th, offering to pay cash, valuing Twitter at $43 billion.
Musk, who calls himself a “free speech absolutist,” had previously explained that after working with the company as a large shareholder, he had decided the only way to make needed changes to the platform was to buy the company and take it off the stock market.
“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.
He added that he was looking forward to working with the company.
Musk has been critical of the app’s policies for monitoring posts, banning users, and its use of certain algorithms. He also has ideas to make Twitter more user friendly.
Once again, the technology magnate has the world awaiting his next move.
