This is perhaps the end of a long series. After months of delay and legal and media battle, Elon Musk finally agrees to buy Twitter. This Tuesday, in a letter addressed to the Securities and Exchange Commission (SEC), the American federal body for regulation and control of financial markets, the billionaire said he wanted to buy the social network at the price he had offered last April , or $54.20 per share.
Elon Musk wants to make Twitter “the universal application”
Remember that in spring 2022, Elon Musk made a formal offer forbuy Twitterat a price of 44 billion dollars. Very quickly, however, he backed away andsuspended its buyout. He said he had serious doubts regarding the too numerous presence, in his opinion, of bots on the platform. Obviously, this did not please the service's shareholders, who wanted to force it to carry out the transaction. A trial was even scheduled to take place between the two parties on October 17 in Deleware.
This takeover is causing concern internally at Twitter, where the billionaire's erratic profile does not reassure employees. He particularly advocates light moderation and presents himself as a champion of freedom of expression. The entrepreneur, for example, defends the return of Donald Trump, the former American president, who was banned from the social network.
Elon Musk himself reacted to the news and he is literally selling dreams to his fans. He says he wants to create the ultimate social network, “universal application". He adds that Twitter could in the future resemble services such as TikTok and WeChat, comments which are not necessarily likely to appeal to current users of the social network.
Regardless, the announcement of this offer pleased investors, and Twitter shares rose 22% to $52 at the close of the New York Stock Exchange. In any case, we should remain cautious about this information, and Elon Musk has indeed taught us in the past that a last minute change of heart is always possible.
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By : Keleops AG
