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Gate.io Blog：The Whole Story of Musks Acquisition of Twitter

Gate.io Blog：The Whole Story of Musks Acquisition of Twitter

2022-04-28 07:22:26 UTC30513 views

【TL; DR】

1. On April 25, Twitter's board of directors announced its acceptance of Musk's acquisition proposal for Twitter at a price of $54.2 per share, with a total amount of approximately $44 billion.

2. On March 25, Musk launched a vote on Twitter to ask netizens about their attitude towards freedom of speech, building momentum for the acquisition of Twitter.

3. On April 4, Musk was exposed to hold 9.1% of Twitter and was invited to become a member of Twitter's board of directors.

4. On April 14, Musk officially announced that it would acquire Twitter and carry out a series of substantive reforms, including adding Dogecoin payment options to Twitter.

On April 25 local time, Twitter's board of directors announced that it had reached a final agreement to sell the company to an entity wholly owned by Tesla CEO Musk at a price of $54.2 per share. With the total amount of acquisition reaching approximately $44 billion, once the transaction is completed, it will become one of the largest privatization transactions in history.

The deal is expected to be completed within this year. After the deal is completed, Twitter will become a privately owned company.

But according to Bluesky, Twitter's Web 3 social media project, said Bluesky would continue to operate independently even if Twitter was successfully privatized. After the news, Twitter shares closed up 5.66% to $51.70. In the meanwhile, the price of dogecoin also swept away the decline for many days and increased by more than 30%, which is obviously related to Musk's identity as the "Godfather of Dogecoin". The prices of other major cryptocurrencies, including Bitcoin, also increased to some extent.

For more information on the specific analysis process, please read this blog：The Whole Story of Musks Acquisition of Twitter





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April 27

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