Twitter Agrees to Sell the Platform to Elon Musk

Twitter Agrees to Sell the Platform to Elon Musk

This year is the most challenging year for Twitter. After Jack Dorsey submitted his resignation as Twitter’s CEO, there is so much to accomplish for Parag Agrawal. Recently, Elon Musk, the founder of Tesla purchased 9.2% of Twitter, Inc. stocks. It made him the biggest stakeholder in the platform. After a series of controversial tweets that followed, Twitter agrees to sell the platform to Elon Musk.

Today, Twitter, Inc. (NYSE: TWTR) announces an agreement to sell the Twitter platform to Elon Musk at $44 billion. It is in response to Elon’s offer to buy their stocks at $54.20 in cash for each share. Such a price represented a 38% premium to Twitter stocks as the trading closed on 01 April 2022. Everybody on the Twitter board believed that it is the best path forward for Twitter stockholders. 

Twitter agrees to sell the platform to Elon Musk on 25 April 2022.

Implications to Marketers:

As Twitter agrees to sell the platform to Elon Musk, marketers and the Twitter nation should look forward to major changes in the platform. Let’s wait and see, and hope that everything will go better on Twitter.

Reference: https://www.prnewswire.com/news-releases/elon-musk-to-acquire-twitter-301532245.html

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