It’s official. According to , Ty the agreement between Elon Musk and Twitter to buy the social network has already been closed today.
Despite the attempts, the billionaire paid 44 billion dollars for this acquisition; an equivalent of 54.20 dollars per share. And it is that, if the purchase was not finalized until tomorrow, he would have had to face the court.
The odyssey to buy Twitter
In April, Twitter accepted a proposal from Elon Musk to buy the social network and turn it into one of his private companies. However, the businessman began to avoid the purchase, arguing that more than 20% of the social network were bots, so the social network was worth less.
However, when the billionaire tried to end the deal, the social network sued him, alleging that he “refuses to honor his obligation to Twitter shareholders because the deal he signed no longer suits him.”
Earlier this month, the CEO of Tesla changed his mind and shared that he would buy the social network at the price he had originally set, as long as the social network dropped the lawsuit. But, suspicious, Twitter’s lawyers mentioned that they were not going to withdraw the lawsuit until the purchase was finalized.
For this, Kathaleen McCormick, chancellor of the Delaware Court of Chancery, gave Musk until October 28 to finish the deal or face trial.
In a tweet, Musk mentioned: “I wanted to reach out personally to share my motivation for acquiring Twitter. There has been a lot of speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong.”
Dear Twitter Advertisers
— Elon Musk (@elonmusk)
According to him, the reason why he bought Twitter is because “it is important for the future of civilizations to have a digital common square, where a wide range of beliefs can be discussed in a healthy way, without returning to violence. There is currently a great danger that social media will split into far-right and far-left echo chambers that generate more hate and divide our society.”
The businessman mentions that he did not buy Twitter for the money, but to “try to help humanity.”
Still not known . However, according to Brian Quinn, a professor at Boston College Law School, one of the areas that could change the most is security and the way content is displayed, as it could be more graphic.