Assessment: Did Elon Musk single-handedly save Free Speech from the likes of Barack Obama and his sycophants? I think he did, and plan to rejoin Twitter for as long as free speech lasts …
Update (1445ET): With earnings right around the corner, and having seen the shares rally all day on leak after leak, Twitter shares were halted ‘news pending’ before new hit that billionaire Tesla CEO Elon Musk reaches deal to acquire Twitter for approximately $44B.
“And you will know the truth, and the truth will set you free.” John 8:22
Twitter, Inc. today announced that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion. Upon completion of the transaction, Twitter will become a privately held company.
Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction. The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.
Bret Taylor, Twitter’s Independent Board Chair, said, “The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”