Elon Musk offer to buy Twitter for 44 billion was approved by Twitter board
Elon Musk Buy Twitter: Board of Twitter world's largest micro blogging site has approved a 44 billion offer from Elon Musk head of US United States technology company Tesla to buy Twitter.
Elon Musk billionaire head of US United States of America technology company Tesla who made the shocking bid 2 weeks ago said that Twitter had extraordinary potential & that he could work better with the company's employees & users. Can bring to the fore.
Elon Musk: Twitter board initially rejected the bid but will now ask its shareholders to vote to approve the deal.
Elon Musk Buy Twitter:Announcing agreement Elon Musk said in a statement: "Freedom of speech is the foundation of a functioning democracy & Twitter is the digital town square where important issues 4 future of humanity are discussed.
He added: By introducing new features & features into this product I have made the algorithm open source to build trust defeat spam bots fake bots & authenticate all human users. I want to make Twitter better by improving process.
Brett Taylor head of Twitter board said he had reviewed Mr Elon Musk's bid for Twitter in a comprehensive & detailed manner. proposed offer will provide significant financial & cash benefits to the company & we believe this is the best way forward for Twitter's shareholders he said.
Elon Musk Buy Twitter:bHe said if bid was successful he would make a number of changes to the platform ranging from easing restrictions on publishing its content to eliminating fake accounts.
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However after Mr Elon Musk offer to buy Twitter was accepted it is not yet clear who will head new company. Twitter is currently headed by Prague Agarwal who took over from co founder & former chairman Jack Dorsey last November.
But Mr Elon Musk told the Twitter board in his bid documents that I don't trust current management of the company.
Elon Musk Buy Twitter: Under the deal which is expected to be completed this year Twitter's shares will-be delisted & acquired as personal shares. Mr Elon Musk says move will give them the freedom to make the business changes they want.
According to Forbes Magazine Mr Elon Musk is the richest man in world with a net worth of 23 237.6 billion. He owns United States Tesla a technology company that makes electric vehicles & also heads aerospace company SpaceX.
Elon Musk: Earlier rumors circulated that Elon Musk, head of US United States technology company Tesla had-bought social networking site Twitter raising Twitter stock price sharply. Shares of (Twitter rose) nearly 4% in New York.
It should be noted that news of Mr Elon Musk's purchase of Twitter gained momentum when according to reports a 43 billion deal was discussed with the head of Tesla in a meeting of Twitter board.
Elon Musk also tweeted from his Twitter account on Monday that I hope my worst enemies will be here because this is freedom of expression.
The Twitter board reportedly met with Elon Musk, head of United States technology company Tesla last weekend to review his 43 43 billion bid 4 social networking site Twitter.
Elon Musk Buy Twitter: Mr Elon Musk plans to repay the bid with the help of United States US lender Morgan Stanley & other financial institutions.
Reuters New York Times & Bloomberg quoted sources as saying that details about how Mr Elon Musk intends to finance his offer were given to United State regulators on Thursday after which 11 members of Twitter took to Twitter. board seriously considered a possible deal.
It has recently been-revealed that Mr Elon Musk owns more than 9% of Twitter's shares & has prepared a .5 46.5 billion financing package 4 his bid.
Funding will come from their own assets & from Wall Street banking company Morgan Stanley & other firms.
Elon Musk Buy Twitter: Following the announcement of Elon Musk's financing plan several Twitter shareholders reportedly approached company & urged it not to miss out on a possible deal.
That Much wealth makes Mr Elon Musk a dangerous enemy.
Analysis: James Clayton Correspondent 4 Technology
In addition to confirming Mr Elon Musk bid to buy Twitter Twitter has remained publicly silent on the matter.
But details of the high level meeting have surfaced where a number of questions have- been raised with company's chief executive Prague Agarwal.
These details say nothing more than suggest what the Twitter administration thinks of offer.
Prague Agarwal has reportedly said he cannot talk about details but the company is not being held hostage.
Elon Musk Buy Twitter: I was told that the purpose of the meeting was to give-more details to company employees but one worker told me that after the meeting they became more confused.
We did Not feel any explanation.
The Twitter board will-not only have to assess the significance of this offer but will also have to assess the damage to the company if it is rejected. Apparently Elon Musk has Plan B after his offer was rejected.
Twitter may-be worth billions of dollars but this is not the case with Mr Elon Musk who has a combined net worth of more than 200 200 billion making him a dangerous enemy.
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