What everyone has been writing about in recent days has become a fait accompli. Twitter, Inc. (NYSE: TWTR) has announced that it has entered into a final acquisition agreement for a wholly owned company owned by Ilona Mask for $54.20 per share in cash under a deal worth approximately $44 billion. After the operation, Twitter will become a private company.
Under the terms of the agreement, Twitter shareholders will receive $54.20 in cash for each share of ordinary Twitter shares they own after closing the proposed deal. The purchase price is a premium of 38% to the closing price of Twitter shares on April 1, 2022, which was the last trading day before Musk revealed his nine percent stake in Twitter.
Brett Taylor, independent chairman of Twitter, said:
“Twitter’s board has conducted a thoughtful and comprehensive process to evaluate Ilona’s proposal with a deliberate focus on value, certainty, and funding. The proposed deal will bring a substantial cash prize, and we believe it is the best way forward for Twitter shareholders.”
Parag Agraval, CEO of Twitter, said:
“Twitter has a purpose and relevance that affects the whole world. We are deeply proud of our teams and inspired by work that has never been more important.”
“Freedom of speech is the foundation of a functioning democracy, and Twitter is a digital city square where issues of vital importance to the future of humanity are discussed,” – said Elon Musk.
“I also want to make Twitter better than ever by improving the product with new features, making open-source algorithms to increase trust, defeating spambots and authenticating everyone. Twitter has great potential – I look forward to working with the company and the user community to uncover it“.
The agreement, which was unanimously approved by Twitter’s board of directors, is expected to close in 2022, subject to Twitter shareholders’ approval, regulatory approvals and other normal closure terms.
Elon Musk’s independently raised $25.5 billion. USA with own and credit funds. The share of borrowed debt is $21.0 billion. USA. It is stated that the creditors do not have any special financing conditions to close the deal.