Wednesday, November 29, 2023
  • Hype
  • Murai
  • Lipstiq
  • Diva
  • Varnam
  • Moviedash
  • Autofreaks
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Compu-zoneUpdated
    • ViewnetUpdated
    • Sri ComputersUpdated
    • StartecUpdated
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Compu-zoneUpdated
    • ViewnetUpdated
    • Sri ComputersUpdated
    • StartecUpdated
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
No Result
View All Result
Home Social Media

Elon Musk Terminates Twitter Acquisition Deal

But the social media company is having none of it.

by Chief Chapree
July 9, 2022
elon musk

[Photo: Peter Tsai/Flickr]

160
SHARES
Share on FacebookShare on Twitter

Elon Musk has formally begun the process of terminating his acquisition of Twitter, according to a recent regulatory filing. In response, the social media company vows to make sure that the deal will go through and is already planning to take legal action against Elon who is the CEO of Tesla and SpaceX.

Already a popular figure on the platform, Elon’s roller-coaster ride with the social media company began back in April when he became its largest shareholder. The 9.2% stake was estimated to be worth around USD2.89 billion (~RM12.79 billion) at that time.

elon musk
[Photo: NASA/Flickr]
Twitter then appoints Elon to its board but he eventually decided not to be part of it. Less than two weeks later though, the company made a regulatory filing that revealed Elon’s offer to acquire the company through a deal that was approximately worth USD41 billion (~RM181.51 billion).

He was so determined to buy over Twitter to the point that he would reconsider his stake in the company if his offer got rejected. In late April, Twitter’s board of directors accepted his offer with the finalized transaction being valued at USD44 billion (~RM194.79 billion).

[Image: Maurizio Pesce / Flickr.]
However, the acquisition process came to a screeching halt in mid-May after Elon pushed Twitter to fully disclose the exact number of fake or spam accounts that existed on the platform. This eventually became the foundation for the termination of the acquisition deal.

Meanwhile, Twitter clearly is having none of Elon’s backtracking attempts. The Chairman of its board, Bret Taylor responded to the termination by saying that they are determined to get the deal done according to the terms that Elon has agreed on.

twitter
Twitter’s HQ in San Francisco. [Image: Twitter.]
Furthermore, the company is planning to take legal action in order to make the agreement stick and believed that the court will be on its side. All in all, things are far from over between Elon and Twitter for the time being.

(Source: United States Securities and Exchange Commission / Twitter – [pdf].)

What’s your Reaction?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0

Follow us on Instagram, Facebook, Twitter or Telegram for more updates and breaking news. 

Filed Under Elon Muskelon musk twitter acquisitiontwitter
Updated 12:58 pm, Mon, 18 July 22
Back to top
Share64Tweet40SendShare
No Result
View All Result

TRENDING THIS WEEK

  1. 1
    Banking

    [UPDATED] Maybank Facing Temporary Service Interruption On Maybank2u And MAE

  2. 2
    Automotive

    Proton S70 Sedan Officially Launches; Starts From RM73,800

  3. 3
    Telco

    Redtone Is An Authorised Starlink Reseller In Malaysia

  4. 4
    Fintech

    GXBank Announces GX Debit Card That Offers Unlimited 1% Cashback

  5. 5
    Mobile Phones

    OnePlus 12 Officially Unveiled; Launching In China On 5 December 2023

NETWORK

  • Hype
  • Murai
  • Lipstiq
  • Diva
  • Varnam
  • Moviedash
  • Autofreaks

ABOUT

  • Advertise
  • Careers
  • Privacy Statement
  • Contact Us
  • Editorial Policy
  • Terms & Conditions

©2023 VIJANDREN RAMADASS. ALL RIGHTS RESERVED.

No Result
View All Result
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Compu-zone
    • Viewnet
    • Sri Computers
    • Startec
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables

©2023 LOWYAT, LLC. ALL RIGHTS RESERVED.