This is a tremendous victory for freedom of speech. Reuters is reporting that the board of Twitter will accept Musk’s offer and a new era will begin on Twitter. Musk has made freedom of speech a priority. Iran has freedom of speech too. It’s freedom after speech they have trouble with. According to Reuters, they will accept Musk’s bid of $43 billion dollars.
There are several factors at work that led to the decision to sell out to Musk. In his original bid, Musk did not actually have the funding available and now he does. Some shareholders have been threatening to sue. And also, they are hoping a White Night will come forward with a competing bid. That seems unlikely at this time. That’s because Musk expects and will probably increase the value of the company. Just reinstating President Trump will generate a ton of advertising dollars.
No longer will there be topics that you cannot discuss. COVID, criticism of Biden, and Hunter Biden’s laptop will be allowed. There are going to be problems. Many employees may quit and those who don’t quit could try to sabotage the operation of the platform. So, they will have to recruit in order to fill the spots of those who 2uit and those who are fired. But, as I see it, it will make Twitter better. And the counter culture cannot silence the richest man in the world.
However, it does remain possible that the deal could collapse at the last minute.
Musk is reportedly negotiating to buy Twitter in a personal capacity. None of the other companies under his control are involved in the deal.
Twitter has been unable to secure a “go-shop” provision under its agreement with Musk that would allow the company to solicit other bids once the deal with Musk is signed, but Twitter would still be allowed to accept offers from other parties by paying Musk a break-up fee for breaking the agreement.
Twitter shares were up 4.5% in pre-market trading, selling for $51.15 a share, in New York on Monday.
Musk has expressed his interest in buying Twitter and taking the company private to grow it so that it may become a platform that truly embraces the principles of free speech.