[ Money talks, bullshit walks, even with leftists. -- SD ]

From: https://tinyurl.com/2p89kzxh

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Elon Musk to Acquire Twitter
NEWS PROVIDED BY

Twitter, Inc.
Apr 25, 2022, 14:50 ET

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SAN FRANCISCO, April 25, 2022 /PRNewswire/ -- Twitter, Inc. (NYSE: TWTR) today 
announced that it has entered into a definitive agreement to be acquired by an 
entity wholly owned by Elon Musk, for $54.20 per share in cash in a 
transaction valued at approximately $44 billion. Upon completion of the 
transaction, Twitter will become a privately held company.

Under the terms of the agreement, Twitter stockholders will receive $54.20 in 
cash for each share of Twitter common stock that they own upon closing of the 
proposed transaction. The purchase price represents a 38% premium to Twitter's 
closing stock price on April 1, 2022, which was the last trading day before 
Mr. Musk disclosed his approximately 9% stake in Twitter.

Bret Taylor, Twitter's Independent Board Chair, said, "The Twitter Board 
conducted a thoughtful and comprehensive process to assess Elon's proposal 
with a deliberate focus on value, certainty, and financing. The proposed 
transaction will deliver a substantial cash premium, and we believe it is the 
best path forward for Twitter's stockholders."

Parag Agrawal, Twitter's CEO, said, "Twitter has a purpose and relevance that 
impacts the entire world. Deeply proud of our teams and inspired by the work 
that has never been more important."

"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," said Mr. Musk. "I also want to make Twitter better than ever by 
enhancing the product with new features, making the algorithms open source to 
increase trust, defeating the spam bots, and authenticating all humans. 
Twitter has tremendous potential -- I look forward to working with the company 
and the community of users to unlock it."

Transaction Terms and Financing
The transaction, which has been unanimously approved by the Twitter Board of 
Directors, is expected to close in 2022, subject to the approval of Twitter 
stockholders, the receipt of applicable regulatory approvals and the 
satisfaction of other customary closing conditions.

Mr. Musk has secured $25.5 billion of fully committed debt and margin loan 
financing and is providing an approximately $21.0 billion equity commitment. 
There are no financing conditions to the closing of the transaction.

For further information regarding all terms and conditions contained in the 
definitive transaction agreement, please see Twitter's Current Report on Form 
8-K, which will be filed in connection with the transaction.
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-- Sean

... Rudeness is the weak person's imitation of strength.
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