Your Terms Are Acceptable

It really happened. Twitter’s board has unanimously accepted Elon Musk’s offer. The stock has been halted. From the NYT:

Elon Musk struck a deal on Monday to buy Twitter for roughly $44 billion, in a victory by the world’s richest man to take over the influential social network frequented by world leaders, celebrities and cultural trendsetters.

Twitter agreed to sell itself to Mr. Musk for $54.20 a share, a 38 percent premium over the company’s share price this month before he revealed he was the firm’s single largest shareholder. It would be the largest deal to take a company private — something Mr. Musk has said he will do with Twitter — in at least two decades, according to data compiled by Dealogic.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Mr. Musk said in a statement announcing the deal. He said he wanted “to make Twitter better than ever.”

Wow. I didn’t think it was really going to happen. There’s no getting around the fact that Twitter simply isn’t that profitable. The company is due to report earnings on Thursday. Wall Street had been expecting earnings of three cents per share.

Posted by on April 25th, 2022 at 3:07 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.