Twitter announced in a press release it has agreed to be acquired by billionaire Elon Musk for $54.20 per share, which is a 38% premium to Friday’s closing price. The deal is valued at $44 billion.
Observers have been wondering if the billionaire would be able to get the Twitter board of directors to accept the offer, in light of Musk’s public statements that he would reform the social media giant by restoring it to a free-speech platform.
For years, Twitter, and other tech giants, have been purposefully burying stories that leftists deem undesirable for public knowledge, and have been cutting off all accounts raising viewpoints that are not in lock-step with leftist policies and propaganda. Musk has been highly critical of these severe censorship practices, and has promised to make the Twitter platform politically neutral and available for the expression of all reasonable viewpoints.
“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,” Musk said in a statement.
Twitter’s shares were up about 6% following the news.
Stay tuned for updates on this breaking story.