Elon Musk Plans to Complete the $44 Billion Purchase of Twitter

by Wall Street Rebel - James DiGeorgia | 10/04/2022 2:13 PM
Elon Musk Plans to Complete the $44 Billion Purchase of Twitter

Musk intends to take the company private after reportedly stating that Twitter is difficult to operate publicly because "purging bogus users will make the figures look horrible, thus restructuring should be accomplished as a private company. In response to the report, Twitter's market share increased by almost 12%.

 

According to a report from Bloomberg, Elon Musk has contacted Twitter and its lawyers via letter, indicating that he is still interested in purchasing Twitter for his original offer of $44 billion. Twitter is positioned to go ahead and sell the firm to Musk rapidly and might soon gain control of the social media platform, given that Twitter's shareholders approved the sale to Musk during a special shareholders meeting in September.

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The manner in which Elon Musk will administer Twitter and regulate the content that its users submit is still a mystery. Musk has previously mentioned that he desires for the site to be less tough with its moderation and restore the accounts of users who have been banned, such as President Donald Trump. Musk has also broached the subject of departing from the model of advertising.

The issue with reducing the amount of time spent moderating content on Twitter could lead to serious legal repercussions and put the company in a significant financial danger. It is possible that users will no longer be able to access the service if it becomes cluttered with content that is deemed offensive, such as those who conduct acts of libel or slander that may be demonstrated. Advertisers might find the modifications offensive, and as a result, they might cease purchasing advertising on the platform out of concern that their products might be displayed alongside libelous and malicious disinformation or misinformation that is spread via the internet, which might put users at risk.

It is common knowledge that Twitter's business has struggled in recent weeks, much like that of its competitors in the social media space, such as Instagram, and that the company has incurred losses. As an illustration, Twitter, Inc. (NYSE: TWTR) fell short of industry experts' sales and profits per share projections during the second quarter. The company blamed both general economic conditions and Elon Musk's decision to withdraw his offer to purchase the company.

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                       Musk Proposes Twitter Deal to Proceed at Original Price

 

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