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Business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.
The Twitter name change was tumultuous – how the Bird App became the X Corp company.
- April 2022
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On April 5, Musk discloses he has purchased more than 9% of Twitter's shares on the open market. At first, he is offered a board seat. That plan quickly falls through — and Twitter decides to adopt a poison-pill strategyto fend off a hostile takeover from Musk. Musk subsequently makes an offer to buy Twitter for $54.20 a share, or about $44 billion...
On May 13, Musk tweets he is putting the deal to acquire Twitter "temporarily on hold" pending additional information about the volume of fake and spam accounts on the platform. That's despite regular disclosures by Twitter stretching back years featuring its estimates that less than 5% of the accounts on the site were fraudulent. Although Musk sub...
Unable to come to an agreement over the bots issue, Twitter sues Musk in Delaware court to enforce the $44 billion deal. “Musk’s conduct simply confirms that he wants to escape the binding contract he freely signed, and to damage Twitter in the process,” the company says. Musk ultimately countersues, once again accusing Twitter of fraud — allegatio...
As the trial approaches and markets increasingly predict a verdict in favor of Twitter, Musk says he will resubmit his bid to acquire the company for $54.20 if Twitter agrees to head off a trial. Twitter declines to do so, but Judge McCormick decides to give the two sides until the end of the month to hammer out an agreement. As the deal nears, The...
Musk's arrival is notably hailed by libertarians and right-leaning pundits. Within 48 hours of taking over, Musk tweets, then deletes, an unfounded, anti-LGBTQ conspiracy theory about the Paul Pelosi attack. A week after Musk’s takeover, far-right figures begin to test Twitter’s boundaries for anti-LGBTQ speech. Despite stating that he had not made...
Oct 28, 2022 · Elon Musk has closed his $44bn deal to take Twitter private, bringing an end to one of the most high-profile and dramatic buyout sagas in recent memory after months of legal wrangling between...
Apr 25, 2022 · Save Article. Update, 10/28/22: Elon Musk officially bought Twitter for $44 billion. In early October, Musk restarted his talks to purchase Twitter, again, at the original price of...
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Oct 27, 2022 · Oct. 27, 2022. After months of waffling, lawsuits, verbal mudslinging and the near miss of a full blown trial, Elon Musk now owns Twitter. On Thursday night, Mr. Musk closed his $44 billion...
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Oct 7, 2022 · Elon Musk on Thursday closed the $44 billion deal announced in April to take Twitter Inc private and took ownership of the influential social media platform by firing top executives...
