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Twitter Sold: From buying Twitter shares to buying the company, know what happened in this deal of Elon Musk

According to the Bloomberg report On April 25, Twitter and Musk said they had reached an agreement to acquire the company and expected the deal to be completed by the end of the year. Here’s a look at what’s happened so far:

January 31: Musk begins building up his stake

Musk quietly began buying Twitter shares on January 31. By March 14, Musk had accumulated over 5% stake.

March 24: Musk begins criticizing Twitter on Twitter

While his stake was still a secret, Musk began tweeting criticisms of the company in late March.
On March 24, Musk expressed concern about the actual bias in the Twitter algorithm, saying that it has a huge impact on the public, so the Twitter algorithm should be an independent platform.

Question asked in poll to users on March 25

Musk asked his Twitter followers in a poll posted on March 25. “Is there a need for a new social media platform?”

“I’m seriously looking into this,” Musk asked in a tweet on March 26.

Several users who commented on the Tesla Inc CEO’s tweet recommended that he consider buying Twitter instead.

April 4: Musk’s stake goes public

Musk was invited to join the board of Twitter. Musk posted another poll on Twitter asking users to vote on whether they wanted the company to add an edit feature. Which allows people to change their tweets.

To this, Twitter CEO Parag Agarwal urged users to “vote carefully” on the poll.” By the end of the day, Twitter invited Musk to join the board. Musk indicated that he would sign a deal. will do.

April 5: Musk becomes active investor

In the morning, several members of Twitter’s board congratulated Musk on his decision to join the ranks. Parag Agarwal tweeted that the company and Musk had been in talks for weeks.

April 9: Musk turns down board seat

The day Musk was due to officially join Twitter’s board, Musk informed the company that he would decline its offer. However, Twitter’s investor relations website listed Musk as a board member. At that time the public was also thinking that Musk was ready to join the board of Twitter.

Musk suggested Twitter should turn its San Francisco headquarters into a homeless shelter “because no one seems to be there.” He later made some jokes suggesting the removal of the “w” in Twitter.

April 10: Twitter made this news public

On Sunday, Agarwal sent a note to employees, and later tweeted it publicly.

April 11:

Musk filed an amended disclosure with the SEC.

April 14: Musk offers to buy the entire company

In a tweet, Musk said he would buy out stockholders in a cash deal worth $43 billion. Under this offer to buy the site Twitter, Musk is ready to pay $ 54.20 for every share of the company.

April 15: Twitter adopts ‘poison pill plan’

To limit Elon Musk’s ability to increase his stake in the microblogging platform, the company adopted the poison pill plan.

April 24: Board discussed with Musk

The talks between Twitter’s board and Musk took place on Sunday and continued the next day. After which the board started taking Musk’s proposal more seriously.

April 25: Musk will buy Twitter

Twitter agreed to sell Musk for an original offer of $54.20 per share. Musk said he would prioritize free speech on the site. Will eliminate spam and add new features.

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