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regular-article-logo Monday, 23 December 2024

Twitter takeover timeline

The Telegraph lists the important dates and events that ultimately led to the buyout of the social media app

Mathures Paul Published 29.10.22, 05:25 AM
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January 31: Elon Musk begins to buy Twitter shares, increasing his stake in the social media platform.

March 14: His stake in Twitter increases to five per cent but he misses disclosing the stake to the US Securities and Exchanges by 10 days.

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March 24: The Tesla man in a series of tweets criticises Twitter, asking users of platform if “a new platform is needed”.

April 4: Elon Musk discloses a nine per cent stake in Twitter, which makes him the largest shareholder of the company.

April 14: Musk makes a bid — $54.20 a share to buy Twitter and added that he might sell his stake in the company if not accepted.

April 21: He says a $46.5 billion package to finance has been lined up to back his bid for Twitter.

April 25: Twitter accepts the offer.

May 13: A tweet arrives out of the blue and Musk says the deal was “temporarily on hold” because of concerns he had about fake accounts on the platform.

May 16: Twitter CEO Parag Agrawal defends his company’s ability to fight spam accounts.

June 3: Twitter said the window had closed for federal antitrust regulators to block the deal.

July 8: Musk wants to terminate the deal after accusing that Twitter hadn’t provided enough information about fake or spam accounts.

July 12: Twitter sues Musk over the billionaire’s attempt to walk away from the deal.

July 19: A Delaware judge orders a five-day trial in October over Musk’s objections.

August 10: Musk sells nearly $7 billion of Tesla stock amid uncertainty over the fate of his Twitter acquisition.

October 4: The man agrees to buy Twitter for his original price offer of $54.20 a share.

October 27: Elon Musk visits Twitter headquarters in San Francisco carrying a sink and tweeting: “Entering Twitter HQ — let that sink in.” He met a number of employees over coffee at The Perch but not all of them were happy to see him there.

October 28: Elon Musk takes control of Twitter.

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