Elon Musk, who made a $44 billion bid to buy Twitter for $54.20 per share, reached an agreement with the platform’s management.
Presenting his proposal two weeks ago, Musk said the social media platform “is the right person to unleash its extraordinary potential.”
“Freedom of expression is the cornerstone of a functioning democracy, and Twitter is the digital marketplace where issues critical to the future of humankind are discussed,” Musk said in the statement. used the phrase.
While Musk has called for a range of changes, from easing content restrictions to getting rid of fake accounts, Twitter management, which initially rejected Musk’s proposal and unanimously took an action called the “poison pill,” will urge shareholders to vote for the to agree deals.
This measure preserved the right of existing shareholders who are not potential buyers to purchase more shares of the company at a lower price.
US media news has reported that Musk has entered into negotiations with the social media company’s board of directors to buy Twitter. Following the said news, Twitter shares traded on the New York Stock Exchange rose more than 5 percent.
44 BILLION DOLLAR AGREEMENT
In a statement to the US Securities and Exchange Commission, Musk, who has committed to funding the deal for $46.5 billion, previously bought 9.2 percent of Twitter stock.
It has been claimed that Twitter management, initially aloof from the takeover, has caved in to Musk’s funding lawsuit and is willing to negotiate the possibility of taking over the company’s management by bailing out shares from the market.
WILL TRUMP RETURN TO TWITTER?
Social media platforms Twitter, YouTube and Facebook had frozen Trump’s accounts on January 6, 2021, amid allegations that he had contributed to the raids on Congress and fraudulent behavior in the 2020 presidential election.
According to US broadcaster FOX News, former President Donald Trump, who used Twitter very actively during his 4-year presidency, will not return to the platform if Elon Musk buys Twitter.
There was also a statement from the White House.
US President Biden has long been concerned about the power of social media platforms and will not comment on any specific action, the White House said.
DOGECOIN ROSE 26 PERCENT
Dogecoin started surging rapidly on the news that Elon Musk was close to reaching an agreement with the Twitter board at noon.
Dogecoin, one of Musk’s favorite cryptocurrencies and the subject of frequent Twitter posts, was trading at $0.1240 in the morning. At 14.00 TSI the investor attacked Dogecoin. Dogecoin, which was trading at $0.1506 as of 21:00, is trading at $0.1676 with the completion of Musk’s purchase. The daily increase was 26 percent.
NO OFFICIAL STATEMENT
Investors expect Twitter to add Dogecoin to its balance sheet and/or use this cryptocurrency as a form of payment on the platform after acquiring Musk. However, an official statement supporting this expectation has not yet been issued.
A BLUE TIC IS EXPECTED FOR ALL “PEOPLE” TO COME
After completing the purchase, Elon Musk shared a screenshot of an article about him in his first tweet on the platform. This is where Elon Musk’s words stood out: I want to make Twitter better than ever by adding new features, open-sourcing algorithms and increasing trust, fighting all bots, and authenticating all humans. Twitter has enormous potential. I look forward to unlocking this potential by collaborating with the company and users.”
Long before Musk bought it, he stated that Twitter had a big problem with bots. Bot accounts, usually controlled from a specific headquarters, are used to keep various topics on the agenda by sending out automated messages. Musk’s recent statements suggest that Twitter will focus on cleaning up bots. Additionally, as Musk has previously argued, all “human users” who are not bots are expected to receive blue ticks. To date, a “blue tick” has been placed next to the names of users who have made a request and whose identity has been verified. The practice first began with public figures and spread over time. Now the blue tick is meant to mean “human user” and used as a war tool against bot accounts.
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