The Elon Musk and Twitter deal appears to be going ahead after previously falling apart
(Picture: Yui Mok/PA)Elon Musk’s deal to buy Twitter appears to be back on after a dramatic U-turn saw the American business tycoon recommit to his original offer.
A spokesperson for Twitter said: “We received the letter from the Musk parties which they have filed with the SEC. The intention of the company is to close the transaction at 54.20 dollars per share.”
Whilst it is important to note that the world’s richest man isn’t afraid of sporadic change of hearts, it is likely that, within a matter of mere weeks, Musk will own one of the most influential media platforms.
Although it’s impossible to know exactly what Twitter would look like under Musk’s ownership, he has previously spoken openly about his vision for the site.
In April, when his original offer was laid on the table, Musk indicated the importance of free speech: “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” he said in a statement.
Under the vein of free speech, Musk has indicated that, with Twitter under his control, some accounts previously banned for breaking the site’s rules, such as former president Donald Trump’s account, could be reinstated, which would be seen by some as a hugely controversial move.
However, legislation on the horizon, including the Online Safety Bill in the UK, will place strict rules on platforms to ensure users are not exposed to harmful and dangerous content. Therefore, it is possible that Musk’s ambitions for less regulation may be undermined somewhat.
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