Twitter’s board of directors has approved a $44 billion takeover bid by billionaire Elon Musk.
Mr Musk, who made the shock offer less than two weeks ago, has claimed he is the right person to “unleash” the social media company’s “extraordinary potential”.
He has proposed a range of changes, from easing content restrictions to getting rid of fake accounts.
The company initially rejected Mr Musk’s offer but will now ask shareholders to vote to approve the deal.
Mr Musk is the richest man in the world, according to Forbes magazine, with an estimated net worth of $273.6 billion, largely due to his stake in electric vehicle maker Tesla, which he runs. He also heads the aerospace company SpaceX.
“Freedom of expression is the foundation of a functioning democracy, and Twitter is the digital marketplace where important issues affecting the future of humanity are debated,” Musk said.
“I also want to make Twitter better than ever by improving the product with new features, open-sourcing algorithms to increase trust, defeat spam bots, and authenticate everyone.
“Twitter has tremendous potential – I look forward to working with the company and the user community to unlock it.”
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