Even by the standards of Twitter, a company that has known plenty of chaos and dysfunction in its history, the weeks-long effort by billionaire Elon Musk to buy the company has proven to be uniquely tumultuous — and there’s no clear end in sight.
After Musk recently said he was temporarily pausing the deal so he could assess the amount of spam and fake accounts, it prompted speculation that the billionaire might be looking to renegotiate the deal — or back out of it entirely. His actions in the days that followed only reinforced that thinking.
Here is a look back at the many twists and turns in one of the most high-profile tech deals in recent memory.
January 31: Musk begins building up his Twitter stake
Musk starts quietly buying up Twitter shares, building his stake in the company. But it would be months before he disclosed this fact to the public.
March 14: Musk’s Twitter stake tops 5%
Musk’s stake in Twitter tops 5%, but that fact is not disclosed until the following month. Musk was obligated to disclose his stake within 10 days of crossing the 5% threshold, but waited 21 days to do so. During that time, he continued building up his stake.
March 24: Asking whether Twitter should change
March 26: Musk reaches out to Jack Dorsey
April 3: Twitter leadership meets to discuss Musk
In the meeting, the Twitter board discussed wanting Musk to agree to “‘standstill’ provisions”,” according to the filing. This would effectively “limit his public statements regarding Twitter, including the making of unsolicited public proposals to acquire Twitter (but not private proposals) without the prior consent of the Twitter Board.”
April 4: Surprise! Musk becomes Twitter’s largest shareholder
News of the purchase sends shares of the social media company soaring more than 20% in early trading and kicks off a wave of speculation about how Musk might push for changes on the platform.
April 5: Musk agrees to join the board
Read More News: Elon Musk’s bumpy road to possibly owning Twitter: A timeline