From March To October, Here’s What Happened

Elon Musk is on the verge of closing his buyout deal for Twitter, supposedly to close on October 28 this week. Musk and Twitter have been going back-and-forth with their discussions, which at one point was close to being cancelled from Musk. But the fact that Elon Musk and Co. were sued in a US Court seems to have prompted him to come back to the table and get the deal through once and for all. Earlier on Thursday, Musk visited the Twitter HQ with a sink in his hand, and made a cheeky comment, “Let that sink in.”

So, how did we finally come to this day and where did it all start between Musk and Twitter. Here’s a complete timeline that will give you the full picture of this long-standing saga.

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When It Started

Elon Musk has had a feud with Twitter for some time now. But it all started around March this year when Musk questioned Twitter’s policy towards free speech and spreading propaganda. He even suggested that creating a new social media platform would be given serious thought.

Buy Twitter, Musk

Some people gave suggestions to Musk that instead of creating a new platform, he should buy Twitter. On April 4, 2022, Twitter came out with a public statement that Musk has taken a 9.2 per cent share of the company, working out to around $2.9 billion based on March 4 share price.

Musk, Twitter’s New Board Member?

Next day, on April 5, 2022, Twitter CEO Parag Agrawal announced that Elon Musk was appointed to Twitter’s board in a series of tweets. Agrawal tweeted that I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.”

However, in a major u-turn, later that week, Twitter’s CEO announced he would not be joining the social media firm’s board.

Musk Outburst

The disclosure from Agrawal follows a series of unusual tweets from Elon Musk over the same weekend in which he wondered aloud to his over 80 million followers if Twitter was dying, citing low frequency of tweets from some of the most popular personalities on the social network.

Official Twitter Buyout Offer Issued

Elon Musk makes an offer to buy the whole company, Twitter, at $54.20 per share at $43 billion on April 14. He filed the offer with the SEC and tweeted a copy of the official offer.

Shareholder Approves Deal, Musk Having Second Thoughts

Once the shareholder gave the deal their nod, Musk started questioning Twitter and its legitimacy with the userbase numbers. Musk claimed that 5 per cent of Twitter users are bots. He even decided to pull out of the deal if the platform didn’t answer his questions.

Twitter Fights Back

Twitter said it had not breached its obligations under the merger agreement as indicated by Musk on Friday for looking to end the deal. “Twitter has not suffered and is not likely to suffer a Company Material Adverse Effect,” it added.

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Twitter Takes Musk To Court

What ensued was a court battle which was supposed to reach its finale with the hearing placed for October 17. But just a few weeks before that, Musk decided to come back on the table and seemingly vowed to honour the contract to make sure the case does not make it to court.

End Of Saga?

It is now expected that Musk will finalise the deal on October 28 and clear up further formalities of the sale in the coming months.

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