Twitter’s board of directors has approved Elon Musk’s $44 billion (£34.5 billion) buyout bid.
Musk, who made the stunning offer less than two weeks ago, said Twitter had “tremendous potential” that he would help to achieve.
He also demanded a slew of adjustments, ranging from loosening content restrictions to eliminating bogus accounts.
The company first turned down Mr. Musk’s offer, but it will now put the proposal to a vote among shareholders.
“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,” Musk said in a statement announcing the deal.
“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans,” he added.
“Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”
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