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Musk's plans for Twitter as billionaire launches takeover offer

Musk's plans for Twitter as billionaire launches takeover offer
Musk's plans for Twitter as billionaire launches takeover offer   -   Copyright  Thomson Reuters 2022
By Reuters

– Tesla Chief Executive Elon Musk has offered to buy Twitter Inc for about $43 billion in cash, days after rejecting a seat on the social media company’s board.

It all started with Musk disclosing a 9.1% stake in Twitter on April 4 and later said he would take a board seat. But, becoming a director would have prevented Musk from becoming a beneficial owner of more than 14.9% of Twitter’s common stock.

Here’s a chronology of developments, including some tweets from Musk and latest comments disclosed in a filing:

Date Tweets and comments from company filing

April 14, 2022 Saudi Arabian Prince Alwaleed bin Talal said that as one

of the major shareholders in Twitter he rejected a

takeover bid by Musk

April 14, 2022 “However, since making my investment I now realize the

company will neither thrive nor serve this societal

imperative in its current form. Twitter needs to be

transformed as a private company,” Musk said in a filing

April 14, 2022 “My offer is my best and final offer and if it is not

accepted, I would need to reconsider my position as a

shareholder,” Musk added in the filing

April 14, 2022 “Twitter has extraordinary potential. I will unlock it,”

Musk said in the filing

April 14, 2022 Musk tweeted

saying “I made an offer”, with a link to the company


April 12, 2022 Musk was sued by former Twitter shareholders who claim

they missed out on the recent run-up in its stock price

because he waited too long to disclose a 9.2% stake in the

social media company

April 10, 2022 Musk polled followers on Twitter asking whether the

company’s headquarters in San Francisco should be

converted into a homeless shelter. The tweet is now

deleted. founder Jeff Bezos had backed Musk’s


April 10, 2022 Twitter CEO Agrawal shared a note

on Twitter saying that Musk rejected the company’s offer

to join its board. Musk deleted the tweet, where he

responded with an emoticon with a


April 10, 2022 Musk started a poll asking if “w” should be deleted from

Twitter’s name, leaving two voting options, “yes” and “of

course.” He deleted that too

April 9, 2022 With respect to Twitter’s business model, Musk tweeted

before deleting it: “And no ads. The power of corporations

to dictate policy is greatly enhanced if Twitter depends

on advertising money to survive”

April 9, 2022 Musk tweeted,

“Everyone who signs up for Twitter Blue (ie pays

$3/month) should get an authentication checkmark” about

its subscription service that offers “exclusive access to

premium features” on a monthly basis. Later, he deleted

the tweet

April 5, 2022 Agrawal tweeted

Musk is being appointed to Twitter’s board. “He’s both a

passionate believer and intense critic of the service

which is exactly what we need on

@Twitter, and in the boardroom, to make us stronger in the

long-term”, a follow-on tweet said

April 5, 2022 Twitter CEO Jack Dorsey welcomed Musk to Twitter’s board

in a tweet,

added: “Parag and Elon both lead with their hearts, and

they will be an incredible team”

April 4, 2022 Musk posted a Twitter poll asking users if they wanted an

edit button. “Do you want an edit button?” Musk asked in

the tweet, in response to which Agrawal said the

consequences of the poll will be important. “Please vote

carefully,” he tweeted

April 4, 2022 In his first tweet since the disclosure of his stake in

Twitter, he said, “Oh hi lol”

March 26, 2022 Musk said Twitter failing to adhere to free speech

principles fundamentally undermines democracy and asked if

a new platform was needed