Deal! $44 billion moves Twitter into the Musk era

At this point, the biggest drama in the field of technology in April this year is about to come to an end. The deal will be the largest privatization of the company in the last 20 years. Musk offered a purchase price of $54.20 per share, a 38 percent premium to the share price when Musk became the company's largest shareholder.

As soon as the news came out, Twitter's stock price rose sharply, closing at $51.70 on April 25, local time, up 5.66%, hitting a new high since November 16, 2021.

In addition, Musk's cryptocurrency Dogecoin, which Musk has repeatedly tweeted, rose sharply on April 25. The data shows that Dogecoin has risen by more than 20% in the last 24 hours.

After Musk, Twitter's uncertainty

The deal reflects a dramatic change in Twitter's management within a week. Earlier, in the face of Musk's acquisition, management raised objections and said that it would use the "poison pill plan" to fight back.

At a staff meeting on Monday afternoon, Twitter CEO Parag Agrawal confirmed the acquisition. Agravar said Musk agreed to convert the shares held by employees into cash after the deal is completed and pay under the existing exercise plan.

Agravar said the company's priorities will not change until the deal is completed. But he also said that once Musk takes over, "we don't know which direction the company will go." ”

As for Musk's start of layoffs, Agrava reassured employees that the company would not make layoffs until the deal was completed. The deal will be struck later this year.

At the same time, the transaction also needs to be approved by U.S. regulators. Transactions need to be submitted to the Department of Justice or the Federal Trade Commission (FTC) for review. The two institutions oversee the acquisition transaction.

But there are also former Justice Department antitrust officials who said on Monday that regulators may investigate Skew's acquisition of Twitter, but are unlikely to sue to block the deal.

Meanwhile, U.S. White House spokesman Jen Psaki responded to the takeover news by saying that U.S. President Joe Biden has been uneasy about the impact of large online platforms on Americans' daily lives.

At a regular press conference on April 25, local time, Psaki noted: "I will not comment on this specific transaction. Meanwhile, no matter who owns Twitter, the president has been uneasy about the impact of large online platforms on our daily lives."

Psaki explained that the U.S. government is concerned about the potential spread of disinformation on social networks, and it is important to hold these platforms accountable for such breaches.

Even if the account is restored, Trump will not return

One of the biggest speculations about Musk's upcoming twitter is whether he will restore the account of former US President Donald Trump.

Previously, there was a view that if the platform relaxed content moderation, or restored some accounts, such as Trump's account, it could lead to a polarized situation. In January 2021, Twitter banned the account of then-US President Donald Trump, citing the risk of incitement to violence.

Agravar responded: "I believe this is a question we should ask him when we have the opportunity to talk to Elon. ”

Still, even if Musk lifts the ban on Trump, he has made it clear that he will not return to Twitter.

On April 25, local time, Trump said in an interview with FoxNews, "No, I will not return to Twitter." ”

"I'm at Trust Social this week, and the plan is set. I've signed a lot of people. I like Elon Musk and I love him. He was an amazing man. I did a lot for Twitter when I was in the White House. I'm disappointed with the way Twitter treats me. I wouldn't return to Twitter. Trump said.

Trump is a strenuous advocate of "Truth Social," arguing that it can replace the current big tech companies in terms of free speech, saying it is a platform that encourages open, free and honest global dialogue without discriminating against political ideology.

However, after Twitter announced that it accepted Musk's privatization offer, Digital World Acquisition Corp's stock price plunged nearly 13%. That's because Trust Social is owned by Trump's Trump Media and Technology Group, which is about to go public through a merger with Digital World Acquisition Corp.

In response to Musk's acquisition, Twitter co-founder Jack Dorsey sent several tweets in a row.

"I love Twitter, and Twitter is the closest thing we have to global awareness," he said. "The idea and service is the most important thing to him, and he will do whatever it takes to protect both."

But he also realized that Twitter as a company was also his biggest regret — it was already owned by Wall Street and the advertising model.

Taking it back from Wall Street is the right first step. While in principle, Dorsey doesn't think anyone should own or operate Twitter. It should be a protocol-level public good, not a company.

"However, to solve its problem as a company, Elon is the only solution I trust. I believe in his mission to expand the light of consciousness. Elon's goal is to create a platform with 'maximum trust and broad inclusion', which is the right goal.

That's what @paraga (the current CEO who just got killed) and why I chose him. Thank you both for lifting the company out of this desperate situation. It's the right path... I believed it wholeheartedly. Dorsey said.

On November 29, 2021, Dorsey announced that he would resign as CEO of Twitter and be replaced by Agravar. Dorsey turned more of his energy to payments company Square, which is also the founder of Square.

Previously, he served as CEO of both Twitter and Square. Dorsey is now one of Bitcoin's most recognizable proponents, and he is using Square to promote bitcoin.

(This article was first published on titanium media APP, author | Li Chengcheng)