Tech Billionarie Elon Musk has completed his Twitter buyout deal of $44 billion at a price of $54.25 per share. He has fired Twitter CEO Parag Agrawal, CFO and many more.
New Delhi: Like a hero’s journey, Elon Musk’s Twitter buyout saga is fraught with ups and downs. The deal whose deadline is today has been a bone of contention throughout the year with Elon’s must sudden proposal to buy the platform to backout from it on the issue of bots and then coming back on the buying narrative. Here’s the timeline of the event that stretchs almost a year
Beginning of Twitter Saga on April 4, 2022
Elon Musk had acquired 9.2% stake in Twitter, or approximately $2.9 billion, based on the share price as of March 4, 2022.
Musk appointed in Twitter board on April 5, 2022
Elon Musk was appointed as a member of Twitter’s board. The then Twitter CEO Parag Agrawal tweeted that he was thriled to announce adding Elon Musk to our board.
First buying pitch by Musk On April 14, 2022
This was the first time when Elon Musk made a bid to purchase Twitter as a whole for $44 billion at a price of $54.20 per share. He tweeted a copy of the formal offer after filing it with the SEC.
Elon Musk’s U-turn
As soon as the shareholder approved the acquisition, Musk began to cast doubt on Twitter’s userbase statistics and its legitimacy. He was asking Twitter board to share the data of total bots on the platform. If they didn’t respond to his questions, he would even revoke the deal.
Twitter said the allegations were wrong and violation of the merger agreement signed by Elon Musk.
Deal back on Track on October 17, 2022
The platform took Elon Musk to the court for forcing him to conclude his Twitter buyout deal. However, Musk changed his mind and returned to his narrative to buy Twitter. He even appealed Twitter board to take back the case.
Elon Musk becomes boss on October 26, 2022
Elon Musk shared a video with in which he was being seen entering Twitter headquarter with a sink and smiling.
Elon Musk explains why he bought Twitter on October 27, 2022
Elon Musk wrote a lenghty note to advertisers on Twitter explaining why he had bought Twitter. He said he didn’t do it for money, but try to help humanity.
Twitter Buyout deal signed on October 28, 2022
The court-given Twitter buyout deadline today. Elon Musk has taken over the rein of Twitter and fired CEO Parag Agrawal, CFO, and many more. He tweeted that bird is freed now.