January 31: Musk begins obtaining shares of Twitter in near-day-to-day installments, amassing a 5% stake in the enterprise by mid-March.
March 26: Musk, who has 80 million Twitter followers and is active on the web-site, reported that he is supplying ‘serious thought’ to developing an alternative to Twitter, questioning no cost speech on the system and no matter whether Twitter is undermining democracy. He also privately reaches out to Twitter board users, including his pal and Twitter co-founder Jack Dorsey.
March 27: Right after privately informing them of his expanding stake in the enterprise, Musk starts off discussions with Twitter’s CEO and board users about potentially joining the board. Musk also mentions using Twitter private or starting off a competitor, in accordance to later on regulatory filings.
April 4: A regulatory filing reveals that Musk has promptly grow to be the greatest shareholder of Twitter right after getting a 9% stake, or 73.5 million shares, value about $3 billion.
April 5: Musk is made available a seat on Twitter’s board on the ailment he amass no more than 14.9% of the company’s stock. CEO Parag Agrawal reported in a tweet that ‘it became clear to us that he would deliver fantastic price to our Board.’
April 11: Twitter CEO Parag Agrawal announces Musk will not be signing up for the board following all.
April 14: Twitter reveals in a securities filing that Musk has offered to invest in the enterprise outright for about $44 billion.
April 15: Twitter’s board unanimously adopts a ‘poison pill’ protection in reaction to Musk’s proposed offer, attempting to thwart a hostile takeover.
April 21: Musk traces up $46.5 billion in funding to obtain Twitter. Twitter board is under force to negotiate.
April 25: Musk reaches a deal to buy Twitter for $44 billion and choose the corporation private. The outspoken billionaire has mentioned he required to possess and privatize Twitter mainly because he thinks it really is not living up to its possible as a system for cost-free speech.
April 29: Musk sells around $8.5 billion truly worth of shares in Tesla to support fund the invest in of Twitter, in accordance to regulatory filings.
May perhaps 5: Musk strengthens his give to get Twitter with commitments of much more than $7 billion from a diverse group of traders which include Silicon Valley heavy hitters like Oracle co-founder Larry Ellison.
May well 10: In a hint at how he would change Twitter, Musk claims he’d reverse Twitter’s ban of previous President Donald Trump subsequent the Jan. 6, 2021 insurrection at the U.S. Capitol, calling the ban a ‘morally poor decision’ and ‘foolish in the excessive.’
Could 13: Musk reported that his prepare to acquire Twitter is ‘ temporarily on hold.’ Musk reported that he demands to pinpoint the variety of spam and phony accounts on the social media system. Shares of Twitter tumble, even though shares of Tesla rebound sharply.
June 6: Musk threatens to end his $44 billion arrangement to acquire Twitter, accusing the enterprise of refusing to give him information and facts about its spam bot accounts.
July 8: Musk tells Twitter he is terminating arrangement because organization would not hand over details on spam bots
July 12: Twitter documents go well with seeking a courtroom judgement forcing Musk to entire the merger at the agreed price
July 19: A Delaware choose suggests the Musk-Twitter legal dispute will go to demo in Oct
August 23: A former head of security at Twitter alleges the company misled regulators about its lousy cybersecurity defenses and its negligence in trying to root out pretend accounts that spread misinformation. Musk sooner or later cites the whistleblower as a new motive to scuttle his Twitter offer
October 5: Musk delivers to go by means of with his primary proposal to buy Twitter for $44 billion. Twitter suggests it intends to shut the transaction right after getting Musk’s supply
Oct 6: Delaware decide delays October 17 trial till November and gives both sides until finally October 28 to arrive at agreement to close the deal
October 20: Musk told possible Twitter investors that he ideas to lay off 75% of the company’s 7,500 personnel, in accordance to The Washington Submit
Wednesday, October 26: Musk posts a online video of himself coming into Twitter headquarters carrying a kitchen area sink, indicating that the deal is established to go via
Thursday, October 27: Musk states Twitter won’t turn out to be a ‘free-for-all hellscape’ in a information he sent to advertisers
*Supply: Associated Press
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