Elon Musk, the CEO of Tesla, has completed his $44 billion acquisition of Twitter.
According to US media and an investor in the company, Mr Musk concluded the acquisition on Thursday night.
“The bird is liberated,” Musk tweeted on Friday.
the bird is freed
— Elon Musk (@elonmusk) October 28, 2022
The takeover has yet to be verified by Twitter.
The Delaware Court of Chancery gave Mr Musk until Friday to reach an agreement to buy the firm.
Mr Musk paid a visit to Twitter’s headquarters on Wednesday in preparation for his takeover attempt.
In a tweet on Wednesday, Mr Musk added, “Entering Twitter HQ – let it sink in.”
“Meeting a lot of great folks on Twitter today,” reads the tweet.
Mr Musk previously altered his Twitter profile to refer to himself as “Chief Twit” and his location as Twitter headquarters.
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Mr Musk told Twitter advertisers on Thursday that social messaging services would not develop into “a free-for-all hellscape, where anything can be spoken with no consequences!”
“I bought Twitter because I believe it is critical for the survival of civilization to have a shared digital town square where a diverse range of opinions can be argued healthily without resorting to violence.”
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“There is now a significant risk that social media may fracture into far-right and far-left echo chambers, generating more hate and dividing our society,” Mr. Musk wrote in the post.
On April 14, Mr. Musk proposed to purchase all of Twitter for $54.20 per share in cash.
Twitter would have become a privately held firm if the deal was completed.
Mr. Musk stated on May 5 that he had acquired $7 billion in fresh funds to bankroll the purchase of Twitter.
Mr. Musk, on the other hand, revealed on May 13 that he had postponed his $44 billion purchase of Twitter.
Mr. Musk stated that he needed to address concerns about the platform’s false or spam accounts.
On July 8, Mr. Musk declared the end of his takeover effort.
Mr Musk stated that his decision was based on Twitter’s “breach” of various merger agreement conditions.
Following his dismissal, Twitter took legal action to enforce the merger agreement, and a trial date was set for October 17.
Mr Musk proposed to proceed with the Twitter takeover proposal two weeks before the trial was set to begin.
