Former United States President, Donald Trump has ruled out the possibility of returning to Twitter after the acquisition of the micro-blogging site by billionaire Elon Musk.
As reported on BizWatch Nigeria, Musk and Twitter disclosed the development in a joint statement addressed to members of the public on Monday, April 25, 2022.
“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,” the joint statement read.
The billionaire made the purchase 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.
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 Musk disclosed his approximately 9% stake in Twitter.
However, following the acquisition announcement, there were calls that the Tesla founder should restore the Twitter account of Trump, which was suspended on January 9, 2021, for allegedly inciting his followers into attacking the United States Capitol building ahead of Joe Biden’s certification as America’s president by the U.S. Congress.
But responding to the call, Trump said he has no interest in returning to Twitter even though he has confidence in Musk’s leadership.
“I am not going on Twitter, I am going to stay on TRUTH.
“I hope Elon buys Twitter because he’ll make improvements to it and he is a good man, but I am going to be staying on TRUTH,” Trump’s statement read.
