Timeline Elon Musk Abandoned Twitter Takeover 44 Billion Dollar Bid To Buy Weeks Of High Drama – Twitter Deal

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Elon Musk, the world’s richest man and owner of Tesla Company, has announced the termination of the $ 44 billion Twitter deal. Musk’s team sent a letter to Twitter. In which it is reported that Elon Musk is terminating his $44 billion deal to acquire Twitter Inc and take it private. The letter said on Friday that Elon Musk was terminating the deal because Twitter was in material breach of several provisions of that deal. At the same time, Elon Musk had asked Twitter to share some information but the company did not do so. Let’s understand through the timeline, what happened from the purchase of Twitter to the end of the deal? Why did Musk pull back?

timeline

  • April 4 – Elon Musk reveals more than 9 percent stake in Twitter
  • April 5 – Twitter announces that Musk will join the company’s board
  • April 10 – Musk takes a shocking decision after Twitter’s announcement and refuses to join Twitter’s board
  • April 4 – Musk once again offered $54.20 per share, a 38 percent premium over Twitter’s April 1 closing price
  • April 21 – Musk then raises $46.5 billion in funding for Twitter deal
  • April 25 – Twitter board accepts Musk’s proposal
  • April 29 – Musk sells more than $8 billion worth of Tesla shares to finance takeover
  • May 2 – Musk tries to get more outside investors next season
  • May 5 – Musk then unveils $7.14 billion in funding
  • May 11 – Following this, Twitter co-founder Jack Dorsey said he would not return as CEO after the acquisition of Musk.
  • May 13 – Musk says Twitter deal put on hold to review spam and fake accounts. However, Musk later tweeted that he was committed to the deal.
  • May 25 – Twitter investors vote against re-inducting a Musk aide to the board next session.
  • May 26 – Musk sues for “manipulating” stock during an acquisition by Twitter investors.
  • June 6 – Musk says the deal will be scrapped if Twitter fails to provide data on spam and fake accounts.
  • July 8 – Musk says he is terminating the deal because Twitter violated several provisions of the merger agreement.

Twitter company will go to court
At the same time, Twitter said that it will go to court regarding the end of the deal. Board Chairman Brett Taylor said in a tweet that the Twitter board is committed to closing the transaction on the price and terms agreed with Elon Musk and plans to take legal action to enforce the merger agreement.

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Elon Musk, the world’s richest man and owner of Tesla Company, has announced the termination of the $ 44 billion Twitter deal. Musk’s team sent a letter to Twitter. In which it is reported that Elon Musk is terminating his $44 billion deal to acquire Twitter Inc and take it private. The letter said on Friday that Elon Musk was terminating the deal because Twitter was in material breach of several provisions of that deal. At the same time, Elon Musk had asked Twitter to share some information but the company did not do so. Let’s understand through the timeline, what happened from the purchase of Twitter to the end of the deal? Why did Musk pull back?


timeline

  • April 4 – Elon Musk reveals more than 9 percent stake in Twitter
  • April 5 – Twitter announces that Musk will join the company’s board
  • April 10 – Musk takes a shocking decision after Twitter’s announcement and refuses to join Twitter’s board
  • April 4 – Musk once again offered $54.20 per share, a 38 percent premium over Twitter’s April 1 closing price
  • April 21 – Musk then raises $46.5 billion in funding for Twitter deal
  • April 25 – Twitter board accepts Musk’s proposal
  • April 29 – Musk sells more than $8 billion worth of Tesla shares to finance takeover
  • May 2 – Musk tries to get more outside investors next season
  • May 5 – Musk then unveils $7.14 billion in funding
  • May 11 – Following this, Twitter co-founder Jack Dorsey said he would not return as CEO after the acquisition of Musk.
  • May 13 – Musk says Twitter deal put on hold to review spam and fake accounts. However, Musk later tweeted that he was committed to the deal.
  • May 25 – Twitter investors vote against re-inducting a Musk aide to the board next session.
  • May 26 – Musk sues for “manipulating” stock during an acquisition by Twitter investors.
  • June 6 – Musk says the deal will be scrapped if Twitter fails to provide data on spam and fake accounts.
  • July 8 – Musk says he is terminating the deal because Twitter violated several provisions of the merger agreement.


Twitter company will go to court

At the same time, Twitter said that it will go to court regarding the end of the deal. Board Chairman Brett Taylor said in a tweet that the Twitter board is committed to closing the transaction on the price and terms agreed with Elon Musk and plans to take legal action to enforce the merger agreement.

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