Quote:Twitter announced in a news bulletin that it "has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion. Upon completion of the transaction, Twitter will become a privately held company."

Twitter says the transaction "is expected to close in 2022" subject to stockholder and regulatory approval.

Original story: Tesla CEO and billionaire Elon Musk recently purchased 9.2% of Twitter stock, shortly after which there was a bit of a will-he won't-he dance with Twitter CEO Parag Agrawal. The same CEO who announced Musk was also being added to the company's board of directors, before u-turning after a week of odd tweets from Musk. After which Musk said, essentially, sod this for a game of toy soldiers: I'm buying the lot.

Musk offered $54.20 a share for Twitter, and said if it wasn't accepted "I would need to reconsider my position as a shareholder." Now Bloomberg is reporting that Twitter is in the final stretch of negotiations about a sale to Musk, per someone with knowledge of the matter. The two sides could apparently "reach an agreement as soon as Monday if negotiations go smoothly", according to this source.

(04-26-2022, 02:56 AM)msch0ft Wrote: Also twitter is now open source. They opened 93 repositories on GitHub.
https://github.com/twitter
This is unreal.

(04-26-2022, 05:31 AM)vittring Wrote: I saw the open source repo had a page for the-algorithm as a practical joke. But here's to hoping the actual algorithm is figured out. It would be interesting to see how it actually works. It's basically the V12 of algos. Everyone wants to see how it looks on the inside. Also, a Twitter clone for hackers and developers would be cool, I'm thinking of leaving Twitter when the Mastadon devs put up E2E-encryption for DMs.

(04-26-2022, 07:42 AM)Boudica Wrote: Twitter for developers sounds interesting, but you know it will also be flooded with toxic shit as much as regular twitter is xD

(05-01-2022, 03:32 AM)Dismas Wrote: Elon sold about $8.5 billion in Tesla shares, in order to facilitate the buyout:
https://arstechnica.com/information-technology/2022/04/elon-musk-sold-8-5b-in-tesla-stock-after-agreeing-44b-twitter-deal/

Leveraging stock in a car company, to buy out a social media company is definitely an odd move.