Last summer, after months of negotiations, Elon Musk announced that he would finally give up taking over Twitter after the social network lied about the number of fake accounts on the platform. The billionaire and the American giant got into a long legal battle because of this, but that doesn’t count. Another unexpected turn from the CEO of Tesla and SpaceX.
Indeed, to everyone’s surprise, Elon Musk offered to complete the purchase of Twitter for the originally proposed $44 billion ($54.20 per share). The regulatory filing of this new decision made it clear The rise in Twitter shares, which closed more than 22% after the news.
Elon Musk finally decides to buy Twitter
On Twitter, Elon Musk explained that this sudden decision is related to his project to create his own social network. “Buying Twitter is an accelerator to build X, the app that will do everything”, can we read on his account? The billionaire later clarifies that Twitter can accelerate the creation of the new platform in about 3 to 5 years, which obviously cannot be ignored.
To remind you, several years have passed.Elon Musk owns the X.com domain name. When we go to the second one, we see a simple white page with a small letter “x”. We do not yet know exactly what the platform Elon Musk plans to create can be used for, but We imagine it will make it possible to establish a connection between all of their companies..
Anyway, Twitter also seems to be in a hurry to complete the transaction with the billionaire. Now that the two assets are on the same page again, the deal is expected to close quickly. It remains to be seen how Twitter will change once Elon Musk takes over.
