Elon Musk buying Twitter has to be one of the most dramatic tech takeovers ever with new twists and turns almost every week. The entire deal may appear similar to a sine curve, if plotted on paper, as to whether or not the billionaire is actually interested in buying Twitter or not. Adding to the existing drama, Musk on October 27, 2022, entered the headquarters of Twitter in San Francisco literally with a kitchen sink in his hands.
Musk later changed his Twitter bio to ‘Chief Twit’ and tweeted, “Entering Twitter HQ – let that sink in!” He also said, “Meeting a lot of cool people at Twitter today!” without mentioning anyone in particular.
His visit to Twitter Headquarters comes days ahead of a court-ordered deadline to close his $44 billion deal.
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
It has been almost six months now that Elon Musk had announced that he was going to buy Twitter at $54.20 per share, a deal amounting to $44 billion. But there has been a lot of back-and-forth between lawyers of Musk and Twitter.
Initially, Twitter did not want the Musk deal to happen and adopted a poison pill. It then went ahead to sue Musk the moment he made his plans to ditch the idea of buying Twitter. Musk reconsidered his buying decision about concerns of spam and bots on Twitter. In other words, he publicly expressed that he may be overpaying to buy Twitter.
On October 5, 2022, Musk finally decided to go through the original buyout deal at the agreed price of $44 billion. According to a report by Reuters, “ the latest twist in the long-running saga came ahead of the high-stakes trial instigated by Twitter in an attempt to hold the Tesla chief to the deal he signed in April.”
So, finally Musk seems to be buying Twitter for a $44 billion bid as he is ordered by court to do so by 28 October, 2022. As per reports, Musk raised $13 billion as loan from banks and lenders to buy Twitter.
What may come next could be surprising as he has already hinted that he would fire 75% of the workforce at Twitter. Even before Musk officially becomes the boss at Twitter, employees have started to protest against him and have written an open letter to the board of directors and Musk criticising his layoff plans.
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