Lake County News
  • News
  • Florida News
  • Lake County FL
  • US Local News
  • Illness
  • Orlando News
  • About Us
Reading: Elon Musk Has Agreed to Acquire Twitter According to Reports
Lake County News
Search
  • News
  • Florida News
  • Lake County FL
  • US Local News
  • Illness
  • Orlando News
  • About Us
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Lake County News > News > Elon Musk Has Agreed to Acquire Twitter According to Reports
News

Elon Musk Has Agreed to Acquire Twitter According to Reports

Katy William
Last updated: 2022/10/28 at 7:28 AM
Katy William
Elon Musk Has Agreed to Acquire Twitter According to Reports
Elon Musk Has Agreed to Acquire Twitter According to Reports

Elon Musk, the CEO of Tesla, allegedly completed the purchase of Twitter on Thursday, putting an end to a protracted story that saw Musk play the roles of suitor, detractor, legal foe, and ultimately owner of the social media site.

According to sources acquainted with the situation, The Washington Post, The New York Times, and The Wall Street Journal were among the publications to disclose the deal’s completion. Nobody at ABC News has confirmed. The bird has been released, Musk tweeted later on Thursday night.

According to Forbes, Musk is the richest man in the world. He reportedly paid $54.20 per share for Twitter, which came to a total of about $44 billion. Musk released a video on Wednesday of himself entering Twitter’s offices while carrying a sink, with the caption, “Entering Twitter HQ – let it sink in!” Musk tried to end the partnership in July, citing worries over spam accounts on the network, after first agreeing to an acquisition deal with Twitter in April.

Must Check:

  • Australia’s Most Populous State Still Faces Flood Threat – Sydney News
  • News About Ectopic Pregnancy: New York Woman Gets $80,000 Bill for Ectopic Pregnancy

Twitter soon after sued Musk for his attempt to scrap the agreement. Musk has until Friday to reach a settlement or the trial will move forward, according to the judge presiding over the Delaware Chancery Court trial. The agreement brings to an end a courtship that began in January with the billionaire’s initial investment in Twitter.

In April, Twitter announced that Musk would join its board of directors, making Musk the social media company’s largest shareholder as of March. Musk later revealed, though, that he had made up his mind not to join the board. Here is how Elon Musk, in the opinion of experts, might alter Twitter

Musk made a purchase offer for Twitter in April, valuing the business at $54.20 per share.  The offer represented a 38% premium over the price that prevailed a day prior to Musk’s disclosure of his Twitter stake. Ten days later, Twitter decided to accept Musk’s proposal.

But a month later, Musk announced that he had “temporarily put the transaction on hold,” citing his worries about the platform’s high incidence of bot and spam accounts. After almost two hours, Musk declared that he was “still committed” to the agreement. According to Twitter, it had sent Musk information in accordance with the terms of the acquisition agreement.

Musk eventually made an attempt to end the agreement in July. Twitter soon after filed a lawsuit against Musk in Delaware’s Chancery Court to compel him to finish the deal. The court’s decision to hold the trial over five days in October, as scheduled in July, looked to be more in line with Twitter’s request for a four-day trial in September. Musk requested that the experiment start no early than the middle of February 2023. The legal process is now over, and the agreement is final.

Hope you found the information valuable, share your views with us in our comment section, and don’t forget to visit our lakecountyfloridanews.com for future updates and Celebrity News.

Subscribe to Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
Share this Article
Twitter Email Copy Link Print
By Katy William
Katy Williams is an ambitious individual who is always looking to learn and grow. She has been a content writer for 2 years and loves to cultivate connections with her co-workers, as well as maintain a positive attitude throughout the day. In her free time, Katy likes to take walks outside and listen to music.
Previous Article Robert Flaxman Net Worth Robert Flaxman Net Worth: What Was His Income At The Time of His Death?
Next Article 8 People Found Dead in Oklahoma House Fire  Murder Investigation Underway After 8 Individuals Were Reported Dead in an Oklahoma House Fire
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Michelle Obama Pregnant: Is She Expecting A Another Baby?
  • Is Jimmy Butler Gay? His Remarkable Basketball Journey To Success!!
  • Jadon Sancho Injury: The Mystery Behind His Absence Against Arsenal!!
  • Manny Machado Injury Update Awaiting His Return To The Padres!!
  • Retire Actor From Television Len Goodman Cause Of Death At 78
Lake County News

© 2023 Lakecountyfloridanews.com All Rights Reserved.

  • Privacy Policy
  • About Us
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Ethics Policy & Mission
  • Verification and Fact-Checking Policy
  • Write For Us – “Top Stories Website” | Lake County Florida News
  • DMCA
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?