.
HomeNEWSYes, the Twitter purchase is approved; No, it's not what you...

Yes, the Twitter purchase is approved; No, it’s not what you think • ENTER.CO

The whole mess of the Twitter buyout, lawsuit, and Elon Musk’s insistence on taking it as the world’s funniest joke has made keeping track of the situation a bit tricky. It also doesn’t help when you enter the social network and find dozens of people shouting in capital letters that Twitter now belongs to the tycoon.

WHAT IF. The Twitter purchase is approved.

No. It’s not what you think.

Twitter board approves Twitter purchase

The thing is, this is not fake news. Just misinformed. The only difference between yesterday and today is that the shareholders meeting has approved the purchase of Twitter.

But not that the purchase had already been approved and had been cancelled? No. What had happened was that Musk had made an offer and it had been accepted by the board. But being strict, the purchase was never ‘finished’. Only Musk wants to back out, while Twitter tells him he can’t and a jury is now out on whether the tycoon’s reasons for ending the contract are legitimate.

It is also important to clarify that the amount for which the purchase was approved was the same for which the offer was originally made: $44 billion dollars. Nothing has changed about it.

In this sense, the approval of the board does not really change anything, rather it continues the process in case Musk changes his mind or the judge determines that the mangante must honor the initial offer. The first option is unlikely and the second will take a long time, considering that Musk has every possible resource to appeal.

Musk has no intention of buying the social network

The point is that Musk has shown that he has no interest in buying Twitter. Even if his claim about the bot accounts is true, the tycoon never claimed that updating this information would change the deal.

Musk’s decision to take Twitter private never made much sense in the first place, especially considering the amount he initially made the offer for. In fact, before Musk made his claims about the bots, many were already questioning whether the tycoon had the resources to keep his word. Early attempts to raise funds sent Tesla shares down and caused Musk allies to worry.

The best summary of the current situation is that you should not panic. The purchase is approved, but Twitter will not be owned by Musk anytime soon…

Images: WikiCommons

Must Read