Tag: takeover
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Elon Musk gets board approval for $44 billion Twitter deal
Twitter’s board of directors unanimously recommended Tuesday that shareholders support Elon Musk’s $44 billion acquisition of the company, according to a US Securities and Exchange Commission filing. Elon Musk, CEO of Tesla and SpaceX, agreed to buy Twitter in April. Still, the business mogul has faced numerous roadblocks in his pursuit of Twitter, but he…
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Musk postpones Twitter acquisition after discovering number of fake accounts
Elon Musk has put his $44 billion (£35 billion) proposal to buy Twitter on hold, citing concerns over the number of bogus or spam accounts on the platform. He stated that he was awaiting facts “to support [the] calculation that spam/fake accounts do indeed comprise less than 5 per cent of users”. Mr Musk has…
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Musk, Twitter sued by Florida pension fund to prevent acquisition
Elon Musk and Twitter are back in the spotlight after a Florida pension fund filed a lawsuit on Friday to restrict the Tesla CEO’s $44 billion takeover of the microblogging site. The Orlando Police Pension Fund filed a complaint in Delaware Chancery Court, claiming that under Delaware law, Musk cannot entirely take over the company…