Elon Musk confirms acquisition of Twitter, explains reasons of buying
Despite Musk’s use of the past tense in the tweet, he did not legally own Twitter at the time it was sent, and the company continues to trade on the New York stock exchange. The final paperwork is expected to be completed on Friday afternoon
Elon Musk claimed he has "acquired" Twitter, reassuring advertisers that the platform will remain a safe place for their brands and explained the real reasons for buying the social media platform.
After months of uncertainty over whether or not his $44 billion acquisition of the social networking platform would go through, the Tesla CEO's post is the strongest indication to far that the deal is expected to be finalized by Friday at 5 pm in Delaware, reports The Guardian.
Despite Musk's use of the past tense in the tweet, he did not legally own Twitter at the time it was sent, and the company continues to trade on the New York stock exchange. The final paperwork is expected to be completed on Friday afternoon.
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In a sign of market confidence that the purchase would go ahead, the platform's shares rose by 1% on Thursday to $53.90, close to the $54.20 a unit agreed price.
However, Musk's note also underscores the long-term fallout of his aggressive negotiations, which have seen him denigrate Twitter's published user figures, and promise an almost moderation-free experience after the purchase.
"The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence," Musk tweeted.
"There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide our society.
"That said, Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences! In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature.
Musk paid a visit to Twitter Inc's headquarters in San Francisco on Wednesday (26 October).
