A timeline of billionaire Elon Musk’s bid to control Twitter

Jun 6, 2022, 6:59 AM | Updated: 9:00 am

Elon Musk threatened Monday to call off his $44 billion acquisition of Twitter, accusing the company of refusing to give him information about spam bot accounts.

Here’s a look at some of what’s transpired between the billionaire Tesla CEO and the social media platform.

January 31: Musk starts buying shares of Twitter in near-daily installments, amassing a 5% stake in the company by mid-March.

March 26: Musk, who has 80 million Twitter followers and is active on the site, said that he is giving ” serious thought ” to building an alternative to Twitter, questioning free speech on the platform and whether Twitter is undermining democracy. He also privately reaches out to Twitter board members, including his friend and Twitter co-founder Jack Dorsey.

March 27: After privately informing them of his growing stake in the company, Musk starts conversations with Twitter’s CEO and board members about potentially joining the board. Musk also mentions taking Twitter private or starting a competitor, according to later regulatory filings.

April 4: A regulatory filing reveals that Musk has rapidly become the largest shareholder of Twitter after acquiring a 9% stake, or 73.5 million shares, worth about $3 billion.

April 5: Musk is offered a seat on Twitter’s board on the condition he amass no more than 14.9% of the company’s stock. CEO Parag Agrawal said in a tweet that “it became clear to us that he would bring great value to our Board.”

April 11: Twitter CEO Parag Agrawal announces Musk will not be joining the board after all.

April 14: Twitter reveals in a securities filing that Musk has offered to buy the company outright for about $44 billion.

April 15: Twitter’s board unanimously adopts a “poison pill” defense in response to Musk’s proposed offer, attempting to thwart a hostile takeover.

April 21: Musk lines up $46.5 billion in financing to buy Twitter. Twitter board is under pressure to negotiate.

April 25: Musk reaches a deal to buy Twitter for $44 billion and take the company private. The outspoken billionaire has said he wanted to own and privatize Twitter because he thinks it’s not living up to its potential as a platform for free speech.

April 29: Musk sells roughly $8.5 billion worth of shares in Tesla to help fund the purchase of Twitter, according to regulatory filings.

May 5: Musk strengthens his offer to buy Twitter with commitments of more than $7 billion from a diverse group of investors including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison.

May 10: In a hint at how he would change Twitter, Musk says he’d reverse Twitter’s ban of former President Donald Trump following the Jan. 6, 2021 insurrection at the U.S. Capitol, calling the ban a “morally bad decision” and “foolish in the extreme.”

May 13: Musk said that his plan to buy Twitter is ” temporarily on hold.” Musk said that he needs to pinpoint the number of spam and fake accounts on the social media platform. Shares of Twitter tumble, while shares of Tesla rebound sharply.

June 6: Musk threatens to end his $44 billion agreement to buy Twitter, accusing the company of refusing to give him information about its spam bot accounts.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

A strike sign is displayed by an entrance at Waterloo train station, in London, during a railway wo...
Associated Press

Here we go again: Strike snarls UK trains for a third day

LONDON (AP) — Train stations were all but deserted across Britain on Saturday, as the third day of a national strike snarled the weekend plans of millions. Train companies said only a fifth of passenger services would run, as about 40,000 cleaners, signalers, maintenance workers and station staff walked off the job in Britain’s biggest […]
3 hours ago
Local resident Tetyana points at her house heavily damaged by the Russian shelling in Bakhmut, Done...
Associated Press

Russia pushes to block 2nd city in eastern Ukraine

KYIV, Ukraine (AP) — Russian forces are trying to block a city in eastern Ukraine, the region’s governor said Saturday, after their relentless assault on a nearby city forced Ukrainian troops to begin withdrawal after weeks of intense fighting. Russia also launched missile attacks on areas far from the heart of the eastern battles. Serhiy […]
3 hours ago
Bangladesh's longest bridge, which took eight years to build amid setbacks involving political conf...
Associated Press

Bangladesh marks opening of country’s longest bridge

DHAKA, Bangladesh (AP) — Bangladesh’s Prime Minister Sheikh Hasina on Saturday celebrated the opening of the country’s longest bridge, which took eight years to build amid setbacks involving political conflict and corruption allegations. The 6.51-kilometer (4.04-mile) bridge spanning the Padma River cost an estimated $3.6 billion and was paid for with domestic funds after the […]
3 hours ago
Police prepare their equipment and gather prior to a demonstration ahead of the G7 summit in Munich...
Associated Press

Protests expected as G-7 leaders set to arrive in Germany

MUNICH (AP) — Tens of thousands of protesters are expected to gather in Munich on Saturday as the Group of Seven leading economic powers hold their annual gathering in the Bavarian Alps in Germany, which holds the G-7´s rotating presidency this year. Police were expecting at least 20,000 protesters in the Bavarian city, the German […]
3 hours ago
A model displays the collection by Russian designer Slava Zaitsev during the opening of the Fashion...
Associated Press

AP PHOTOS: Moscow Fashion Week sprawls across the capital

MOSCOW (AP) — Chic and adventurous models and couturiers have been spread all over the Russian capital for Moscow Fashion Week, flaunting their designs in venues ranging from a sprawling Stalin-era propaganda exposition to a large park near the Kremlin admired for its innovative features. More than 100 shows are being held during the week […]
3 hours ago
Hundreds of people were slaughtered in a village and its surroundings this month in the latest expl...
Associated Press

‘Total bloodbath’: Witnesses describe Ethiopia ethnic attack

NAIROBI, Kenya (AP) — The heavily armed men appeared around the small farming village in Ethiopia’s Oromia region, frightening residents already on edge after recent clashes between government troops and rebels. “The militants assured us that they will not touch us. They said they are not after us,” resident Nur Hussein Abdi told The Associated […]
3 hours ago

Sponsored Articles

...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Update your child’s vaccines before kindergarten

So, your little one starts kindergarten soon. How exciting! You still have a few months before the school year starts, so now’s the time to make sure students-to-be have the vaccines needed to stay safe as they head into a new chapter of life.
...
Arizona Division of Problem Gambling

Arizona Division of Problem Gambling provides exclusion solution for young sports bettors

Sports betting in Arizona opened a new world to young adults, one where putting down money on games was as easy as sending a text message.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

ADHS mobile program brings COVID-19 vaccines and boosters to Arizonans

The Arizona Department of Health Services and partner agencies are providing even more widespread availability by making COVID-19 vaccines available in neighborhoods through trusted community partners.
A timeline of billionaire Elon Musk’s bid to control Twitter