musk: From largest shareholder to proprietor: How the Elon Musk-Twitter saga spread out in 21 days

Elon Musk — pending a couple of approvals — will now be the brand new proprietor of Twitter. The remaining 3 weeks had been a whirlwind even through Musk’s requirements. He changed into the most important person shareholder of Twitter on April 4 and 21 days later stands as the landlord of Twitter. How did the saga if truth be told spread? We convey a timeline of occasions that resulted in Twitter being owned through Musk:
April 4: Elon Musk turns into the most important person shareholder of Twitter
Twitter published that Musk had bought a 9.2% percentage of the corporate. Musk shelled out round $2.9 billion to turn into the most important person shareholder of Twitter.
April 5: Twitter pronounces Musk will sign up for its board of administrators
Elon Musk used to be appointed to Twitter’s board of administrators as published through Twitter CEO Parag Agrawal. “I’m excited to percentage that we’re appointing @elonmusk to our board! Thru conversations with Elon in contemporary weeks, it changed into transparent to us that he would convey nice price to our Board,” published Agrawal in a tweet.
April 10: Musk is not going to sign up for Twitter’s board
A couple of days after he introduced his appointment, Agrawal stated that Musk is not going to sign up for the board. Agrawal in a observe to the corporate’s staff stated that, “Elon shared that very same morning that he’ll now not be becoming a member of the board. I consider that is for the most productive. We’ve and can all the time price enter from our shareholders whether or not they’re on our Board or no longer. Elon is our largest shareholder and we can stay open to his enter.”
April 14: Musk makes an be offering
Musk, no longer so strangely, in a tweet stated that, “I’ve made an be offering.” The all-cash be offering used to be to shop for Twitter at $54.20 consistent with percentage which valued Twitter at $43.2 billion.
April 15: Twitter board makes an attempt to ‘forestall’ Musk
“Poison tablet” is what it used to be termed and Twitter’s board of administrators published that they had been going for a limited-duration shareholder rights plan. This may save you Musk used to be purchasing Twitter.
April 25: It’s Elon Musk’s Twitter
In between, Musk published how would fund his Twitter bid and in the end, Twitter permitted his be offering valued at simply over $44 billion. “The Twitter Board performed a considerate and complete procedure to evaluate Elon’s proposal with a planned focal point on price, simple task, and financing. The proposed transaction will ship a considerable coins top rate, and we consider it’s the most productive trail ahead for Twitter’s stockholders,” Twitter stated in a press unlock.

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