First, we discovered that Elon Musk had bought sufficient shares of Twitter to grow to be its largest particular person shareholder. The corporate introduced Musk would sit on its board of administrators, however inside the area of per week, that plan unraveled, and Musk knowledgeable the board he wouldn’t settle for the place.
Elon’s subsequent transfer got here within the type of an unsolicited provide to purchase one hundred pc of Twitter’s shares for $54.20 every, or about $44 billion.
On April twenty fifth, it appeared prefer it was throughout. Twitter accepted Elon Musk’s provide to buy the corporate for $44 billion.
In fact, issues couldn’t be that easy.
On July eighth, after extended posturing and plenty of, many tweets, Musk despatched a letter to Twitter saying he plans on terminating their merger settlement, claiming the corporate is in materials breach of the deal, and accusing Twitter of “false and deceptive representations upon which Mr. Musk relied when getting into into the Merger Settlement.” His declare that Twitter breached the deal depends on an argument that has not precisely represented the quantity of spam and bot exercise on the platform and has didn’t fulfill his requests for proof proving in any other case.
Twitter chairman of the board Bret Taylor responded (on Twitter in fact), saying the corporate “plans to pursue authorized motion to implement the merger settlement.”
Musk, who already leads Tesla, SpaceX, The Boring Firm, and Neuralink, is one among Twitter’s most seen customers, with a big viewers of devoted followers. The billionaire exec spontaneously shares earthshaking firm plans, uncredited memes, and weird accusations. That’s along with responses that function a world tech assist line for individuals who need every part from assist with their electrical automobile to politicians looking for satellite tv for pc web to allow them to maintain residents linked throughout a warfare.
The Musk period at Twitter included a shock reveal that it’ll check an edit button for tweets quickly — information that the corporate insists had nothing to do with a ballot that its virtually board member posted in regards to the characteristic simply earlier than it was confirmed.