Elon Musk Twitter Deal Timeline: Why Musk took a U-turn?
Elon Musk twitter Deal Timeline: Why Musk took a U-turn?
The whole story of the deal between Elon Musk and twitter starts from march this year. Let us know when this deal started? Why did Musk back down? What happened in court, and why did Musk eventually have to go back on the deal?
However, it was not easy for twitter to end this deal on an agreed basis. Musk's U-turn with repeated deals also caused trouble for Twitter. Eventually twitter took the court's recourse and completed the settlement. Let us know when this deal started? Why did Musk back down? What happened in court, and why did Musk eventually have to go back on the deal?
The full story of the deal between Elon Musk and twitter begins in march this year. Actually, Musk had questioned Twitter's policies regarding freedom of expression in one of his tweets. During this, he suggested to create a new social media platform.
When Musk became the owner of 9.2 percent of the shares
After suggesting to create a new social media platform, people suggested to Musk that he should buy Twitter. Then on april 4, 2022, twitter announced that Musk had taken a 9.2 percent stake in the company, which was approximately $2.9 billion based on its march 4 share price.
The whole story of the deal between Elon Musk and twitter starts from march this year. Let us know when this deal started? Why did Musk back down? What happened in court, and why did Musk eventually have to go back on the deal?
However, it was not easy for twitter to end this deal on an agreed basis. Musk's U-turn with repeated deals also caused trouble for Twitter. Eventually twitter took the court's recourse and completed the settlement. Let us know when this deal started? Why did Musk back down? What happened in court, and why did Musk eventually have to go back on the deal?
The full story of the deal between Elon Musk and twitter begins in march this year. Actually, Musk had questioned Twitter's policies regarding freedom of expression in one of his tweets. During this, he suggested to create a new social media platform.
When Musk became the owner of 9.2 percent of the shares
After suggesting to create a new social media platform, people suggested to Musk that he should buy Twitter. Then on april 4, 2022, twitter announced that Musk had taken a 9.2 percent stake in the company, which was approximately $2.9 billion based on its march 4 share price.
Musk joins twitter board
Elon Musk joined Twitter's board on april 5, 2022, following a stake in the company. twitter CEO Parag Agarwal announced in a series of tweets that Elon Musk is being appointed to the twitter board.
A few days after twitter CEO Parag Agarwal's announcement, Musk made a U-turn. He declined to join the twitter board.
When Musk showed the power of money
After refusing to join the board, Elon Musk offered to buy all of twitter on april 14. twitter was offered to buy for $43 billion at $54.20 a share, after which the deal was approved by shareholders.
Musk again took a U-turn
After this deal, Musk once again made a U-turn. Musk started questioning the legitimacy of twitter users. He claimed that five percent of twitter users are spam. He sought information from twitter, but after Twitter's refusal, he decided to exit the deal on July 9.
Twitter knocked on the door of the court
After Musk's U-turn, twitter approached the court. Said that it has not violated its obligations under the merger agreement. twitter said that the deal should be completed as soon as possible as the dispute is hurting the business of the micro-blogging site.
when the fight ended
After long arguments from both the sides in the court, the trial of the case was to be held from october 17. However, before that Musk returned to the deal and asked to complete it. After this, the court of Delaware ordered the completion of Twitter's deal by october 28.