Timeline of billionaire Elon Musk's bid to buy Twitter- in first move fires Parag Agrawal
On October 4, Elon Musk reversed himself and offered to honor his original proposal to buy Twitter for $44 billion — a deal he had spent the previous several months trying to wriggle out of. He made the latest offer just two weeks before a Twitter lawsuit aimed at forcing Musk to go through with the deal was scheduled to go to trial in Delaware Chancery Court. After receiving Musk's offer, Twitter said it intends to close the transaction.
The two parties now have to close the deal by Friday. If they don't, the Delaware Chancery Court judge overseeing the case plans to reschedule the trial in November.
If the case has your head spinning, here's a quick guide to the major events in the saga featuring the billionaire Tesla CEO and the social platform.
January 31: Musk starts buying shares of Twitter in near-daily installments, amassing a 5% stake in the company by mid-March.
March 26: Musk, who has tens of millions of Twitter followers and is active on the site, says he is giving “serious thought” to building an alternative to Twitter, questioning the platform's commitment to “free speech” and whether Twitter is undermining democracy. He also privately reaches out to Twitter board members including his friend and Twitter co-founder Jack Dorsey.
March 27: After privately informing Twitter of his growing stake in the company, Musk starts conversations with its CEO and board members about potentially joining the board. Musk also mentions taking Twitter private or starting a competitor, according to later regulatory filings.
April 4: A regulatory filing reveals that Musk has rapidly become the largest shareholder of Twitter after acquiring a 9% stake, or 73.5 million shares, worth about $3 billion.
April 5: Musk is offered a seat on
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