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On April 14, Musk made an unsolicited and non-binding offer to Twitter to purchase the company for $43 billion, or $54.20 per share, and take it private. Though the offer was made to company management, the bid was described as a hostile takeover attempt because of the implied threat to purchase the outstanding stock if management declined.
April 18, 2023 at 9:21 AM. Tesla CEO Elon Musk's $44 billion purchase of Twitter ( TWTR) has been followed by a series of chaotic events for the social media platform, including the workforce ...
The service is owned by the American company X Corp., which was established to succeed the prior owner Twitter, Inc. in March 2023 following the October 2022 acquisition of Twitter by Elon Musk for US$44 billion. Musk stated that his goal with the acquisition was to promote free speech on the platform.
X Logo used since July 2023 [a] X homepage visited while logged out in July 2024 Type of site Social networking service Available in Multilingual Predecessor(s) Twitter Area served Worldwide, except blocking countries Owner X Corp. (2023–present) Chairman Elon Musk CEO Linda Yaccarino URL x.com Registration Required [b] Current status Active Native client(s) on Android iOS iPadOS Amazon Fire ...
July 5, 2024 at 10:43 AM. By Jonathan Stempel. NEW YORK (Reuters) - Elon Musk wants to dismiss a lawsuit by former Twitter shareholders who said he waited too long in early 2022 to reveal his ...
Musk offered to buy Twitter for $54.20 per share; Twitter responded by creating a new class of preferred stock priced at $420. Not surprisingly, buying a publicly traded company is more ...
On July 12, Twitter opened a lawsuit against Musk to force the sale to proceed. On September 13, 2022, Twitter shareholders voted to approve Elon Musk's takeover of the company. On October 4, 2022, it was reported that Musk offered to proceed with the deal at the original offer price of $54.20 per share.
Musk hinted at Twitter’s financial troubles saying, “I acquired the world’s largest non-profit for $44 billion.” (Twitter had, in fact, reported a profit in 2018 and 2019, prior to Musk ...