{"id":224206,"date":"2022-04-26T08:26:57","date_gmt":"2022-04-26T08:26:57","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=224206"},"modified":"2022-04-26T08:28:19","modified_gmt":"2022-04-26T08:28:19","slug":"twitter-shares-2","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/twitter-shares-2\/","title":{"rendered":"Twitter shares rise 6% after it was acquired by Elon Musk for $44 billion"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>Washington D.C., (Business News Report)|| <\/strong>Twitter shares rose 6% after the company announced that it was bought by Elon Musk for $44 billion, to be paid in cash.<\/p>\n<p style=\"text-align: justify\">The 16-year-old Twitter platform is used by millions of customers and world leaders.<\/p>\n<p style=\"text-align: justify\">Discussions about the deal, which began last week, accelerated before Elon Musk succeeded in wooing shareholders by publishing the details of his big financial offer.<\/p>\n<h3 style=\"text-align: justify\">Twitter shares<\/h3>\n<p style=\"text-align: justify\">Musk, the world&#8217;s richest man, began takeover negotiations with an offer of $54.20 per share.<\/p>\n<p style=\"text-align: justify\">He said freedom of expression is the bedrock of every functioning democracy, and added that &#8220;Twitter is the digital town square where matters vital to the future of humanity are debated.&#8221;<\/p>\n<p style=\"text-align: justify\">The company&#8217;s shares rose by about 6% after resuming trading, which was stopped for a short time to inform Musk&#8217;s acquisition of the platform.<\/p>\n<p style=\"text-align: justify\">Since Musk talked about his desire to acquire the company, some shareholders have rejected the deal, led by Saudi billionaire Al-Waleed bin Talal, who and his company <a href=\"https:\/\/kingdom.com.sa\/\">Kingdom Holding<\/a> own 5.3% of the shares.<\/p>\n<p style=\"text-align: justify\">Last week, the platform\u2019s board of directors set restrictions that prevented anyone from acquiring the site completely, and limited purchases to 15% of the shares, through what was known as the \u201cpoisonous pill\u201d procedure, but the shareholders pressed to complete the deal.<\/p>\n<p style=\"text-align: justify\">After the deal was announced, Musk said it would make Twitter even better than it was.<\/p>\n<p style=\"text-align: justify\">Ahead of the official announcement of the deal, the US billionaire said he hoped his critics would continue on the platform because &#8220;that&#8217;s what freedom of speech is.&#8221;<\/p>\n<h3 style=\"text-align: justify\">Who runs Twitter?<\/h3>\n<p style=\"text-align: justify\">It is not clear who will run the Twitter platform after the agreement on Musk&#8217;s acquisition of it, according to the company&#8217;s website.<\/p>\n<p style=\"text-align: justify\">Musk also holds the position of CEO, chief technology officer, and president of the SpaceX company for rockets and spacecraft, as well as his participation in a number of other companies and start-up companies.<\/p>\n<p style=\"text-align: justify\">Twitter is run by CEO, Parag Agrawal, who took over the position last November with the support of co-founder and former president, Jack Dorsey.<\/p>\n<p style=\"text-align: justify\">Musk is critical of Twitter&#8217;s management, telling Twitter CEO Brett Taylor in the takeover offer document: &#8220;I have no confidence in management.&#8221;<\/p>\n<p style=\"text-align: justify\">Agrawal has not discussed the acquisition of the platform since the beginning of this month, when Musk announced his refusal to offer him a seat on the company&#8217;s board of directors, a decision that he said would be &#8220;the best&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington D.C., (Business News Report)|| Twitter shares rose 6% after the company announced that it was bought by Elon Musk for $44 billion, to be paid in cash. The 16-year-old Twitter platform is used by millions of customers and world leaders. Discussions about the deal, which began last week, accelerated before Elon Musk succeeded in [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":224208,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2081],"tags":[166,278,7642,2838],"class_list":["post-224206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2081","tag-elon-musk","tag-featured","tag-shares","tag-twitter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Twitter shares rise 6% after it was acquired by Elon Musk for $44 billion<\/title>\n<meta name=\"description\" content=\"BNReport| Twitter shares rose 6% after the company announced that it was bought by Elon Musk for $44 billion, to be paid in cash.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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