Elon Musk now owns Twitter and is taking the company private.
Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction. The purchase price represents a 38% premium to Twitter's closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.
The Wall Street Journal earlier noted that Musk was working feverishly behind the scenes to curry support and ultimately convinced shareholders:
The turnabout on Twitter’s part comes after Mr. Musk met privately Friday with several shareholders of the company to extol the virtues of his proposal while repeating that the board has a “yes-or-no” decision to make, people familiar with the discussions said.
The left is apoplectic:
The Biden administration had no problem using the power Twitter has “over everyday lives” to suppress circulation of negative report on Hunter Biden and his laptop in an effort to affect an election. They had no problem with Twitter suspending accounts like mine for sharing the legitimate and accurate New York Post story about Hunter Biden’s laptop.
These never get old:
Only 27% of the public may use Twitter but it’s short-sighted to say that’s the only measure of the platform’s influence. Rage mobs began on Twitter. Canceling began on Twitter. Entire movements, like the modern tea party from 2008, began on Twitter.
Twitter may be more for the commentariat and politicians but it’s the colosseum for what is covered in the news, how, and with what tone. The headlines you read, the stories, everything is put through the crucible of social media before it’s consumed.
Twitter was significant enough that the government began to press on it and other social media platforms to control messaging ahead of the last general election.
I don’t know what changes to expect, but this is already happening:
Liberty-minded people definitely have something to celebrate today but remember — this fight isn’t over. The battle for the digital public square has only just begun. Tyrants don’t take rejection lightly.
It’s a civil war with buying and selling instead of boots and artillery. Musk can acquire Twitter but holding it — and its function as the de facto national public square — depends on all of us.
Yes! Twitter is now a free speech platform. The leftist on Twitter will lose it and they cannot report speech they hate. This means Dana tweets don't get put in the way of the dodo bird.
Elon could do worse than put Dana in charge of Twitter.