Hello everyone, today Xiaobian has come to share information with you again. In the early morning of April 26, Beijing time, Twitter announced on Monday that the company's board of directors has accepted billionaire Elon Musk's $44 billion acquisition and privatization proposal.
Musk announced on the 14th of this month that he intends to acquire Twitter and take it private. But his proposal was quickly rejected by Wall Street because it was unclear whether he could come up with the money to complete the deal.
Subsequently, Twitter also adopted a "poison pill" strategy, a defensive tactic that prevents Musk from accumulating more company stock.
Last week, Musk updated his proposal, saying he had secured a $46.5 billion financing commitment, pressuring Twitter to consider his offer more seriously.
Musk is currently buying the company for $54.20 per share, which is the same price he made earlier this month in his initial offer. The deal is expected to close in 2022, and upon completion of the deal, Twitter will become a privately held company. Twitter shares were suspended ahead of the news, rising 5.52 percent to $51.63 ahead of the suspension.
In addition, the transaction is expected to close in 2022, but it is subject to Twitter shareholder approval, regulatory approval and completion of other conditions.
Well, that's all for this issue, see you in the next issue.