Explained: Is Elon Musk vs Twitter deal nears close? Here're TURNING POINTS of this buyout

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New Delhi: The buyout agreement between Elon Musk and Twitter is about to be finalised, scheduled to close on October 28 this week. The conversations between Musk and Twitter have been back and forth, and at one point, Musk almost cancelled the deal. But Elon Musk and Company's being sued in a US court appears to have motivated him to return to the negotiation table and finalise the purchase.

Musk visited the Twitter headquarters earlier on Thursday while holding a sink and said, "Let that sink in." So, how did Musk and Twitter's deal begin? Read on to find out the detailed timeline of the deal. ()

How and when the deal started?

Elon Musk and Twitter have been at odds for a while. However, it all began in March of this year when Musk questioned Twitter's stance on free speech and the dissemination of propaganda. He also implied that serious consideration would be given to developing a new social media platform. ()

Twitter announced publicly on April 4, 2022, that Musk had acquired 9.2 percent of the firm, or approximately $2.9 billion, based on the share price as of March 4, 2022.

Elon Musk's appointment as the company's board

The following day, on April 5, 2022, Twitter CEO Parag Agrawal tweeted many times to confirm Elon Musk's appointment to the company's board. I'm thrilled to announce that we're adding Elon Musk to our board, Agrawal tweeted. Elon's significance to our Board became evident to us through our talks with him in recent weeks.

Elon Musk tweeted about the deal

On April 14, Elon Musk makes a bid to purchase Twitter as a whole for $43 billion at a price of $54.20 per share. He tweeted a copy of the formal offer after filing it with the SEC.

Elon Musk's U-turn

As soon as the shareholder approved the acquisition, Musk began to cast doubt on Twitter's userbase statistics and its legitimacy. According to Musk, 5 percent of Twitter users are automated. If the platform didn't respond to his questions, he even made the decision to cancel the agreement.

Twitter respond

Twitter claimed that, contrary to what Musk claimed on Friday, it had not violated its commitments under the merger agreement. It said, "Twitter has not and is not projected to have a Company Material Adverse Effect.