The deal will include a $2 billion share buyback program and give the hedge fund, Elliott Management, a seat on Twitter's board of directors.
ADVERTISEMENTTwitter has struck a deal to keep Jack Dorsey as CEO, after an activist hedge fund recently agitated for leadership change at the company.
The deal will include a $2 billion share buyback program and give the hedge fund, Elliott Management, a seat on Twitter's board of directors, according to a press release.
Elliott, which has invested in and advocated for changes at many major companies, had recently pushed for changes at the company. Last week, Dorsey said he wasre-evaluating his plans to spend more time in Africa, though he cited the new coronavirus outbreakas the reason.
Technology investment firm Silver Lake will be investing $1 billion in Twitter as part of the agreement, and Silver Lake will also receive a board set. The board will also work toward finding a third new board member, according to the press release.