Of course, things couldn’t be that simple.
Elon Musk bought Twitter. Here’s how it happened.
Musk sent a letter to Twitter saying he plans on terminating their merger agreement, claiming the company is in material breach of the deal and accusing Twitter of “false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement.” Twitter then sued Musk in an effort to force him to finish the deal, and the fight seemed like it was headed to trial in Delaware’s Chancery Court in October. What followed was months of legal wrangling over evidence, accusations of fraud, and even a few depositions.
Finally, Musk decided to do what he had already agreed to do and buy Twitter. Judge Kathaleen McCormick gave the two sides a deadline of 5PM on October 28th to close the deal, and with time ticking down on the evening of the 27th, the deal has closed. Elon Musk reportedly began Twitter’s new era of private ownership by firing several executives, including previous CEO Parag Agrawal, CFO Ned Segal, and policy chief Vijaya Gadde.