A timeline of Elon Musk's takeover of Twitter
A lot has happened since Elon Musk completed his acquisition of Twitter last month — layoffs of thousands of employees, firings of engineers critical of him
A lot has happened since Elon Musk completed his acquisition of Twitter last month — layoffs of thousands of employees, firings of engineers critical of him and an impersonation of an official Eli Lilly account that caused the pharmaceutical company's stock to drop.
It's all part of the chaotic saga that began this spring, when Musk first put in motion a plan to take control of the social media platform.
Here’s a complete timeline of what’s happened so far.
On April 5, Musk discloses he has purchased more than 9% of Twitter's shares on the open market. At first, he is offered a board seat. That plan quickly falls through — and Twitter decides to adopt a poison-pill strategy to fend off a hostile takeover from Musk.
Musk subsequently makes an offer to buy Twitter for $54.20 a share, or about $44 billion — a price well above the company's stock price at the time. He says his goal is to apply free speech principles to the platform, which he claimed had been mismanaged. "The company will neither thrive nor serve this societal imperative in its current form," he writes. "Twitter needs to be transformed as a private company."