The World’s Richest Man, Elon Musk, Has Officially Closed His Acquisition of Twitter in a $44 Billion Deal That Will See the Social Media Platform Delisted From the NYSE and Become a Privately Held Company
After closing the deal, Musk’s first order of business saw him fire several of Twitter’s top execs, including CEO Parag Agrawal, CFO Ned Segal, and legal affairs and policy chief Vijaya Gadde.
Following completing the long-anticipated $44 billion Twitter deal, Musk let the world know late Thursday evening, tweeting, “The Bird is Freed.” The tweet appears well-received, having garnered over 2.4 million likes as of this writing.
the bird is freed
— Elon Musk (@elonmusk) October 28, 2022
The previous afternoon before the deal’s close, Musk tweeted a video of him arriving at the Twitter headquarters holding a kitchen sink, with the caption “Entering Twitter HQ – let that sink in!”
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
Musk wasted little time implementing the sweeping changes to the platform he promised. On Friday, Musk officially fired several of Twitter’s top brass, including the company’s CEO Parag Agrawal, CFO Ned Segal, and legal affairs and policy chief Vijaya Gadde.
Also Read: 5 Stocks to Take Advantage of China’s Post-Pandemic Reopening
With the acquisition now a done deal, the lawsuit against Musk, which was set to go to trial soon, has been dismissed, per court documents released yesterday.
An October 28 letter from Musk’s attorney to Judge Kathaleen McCormick stated:
“Yesterday evening, Defendants and Twitter closed the transaction contemplated by the merger agreement dated April 25, 2022. In light of this development, Defendants and Twitter have agreed to dismiss their claims and counterclaims as set forth in the stipulation and proposed order of dismissal submitted with this letter.”
On Thursday, a filing was made with the Securities and Exchange Commission (SEC) confirming the completion of Musk’s Twitter acquisition, bringing the nearly year-long saga to a close.
As a result of the deal’s completion, shares of Twitter stock are set to be delisted as the company will now be privately held. On Friday, the New York Stock Exchange (NYSE) issued a notice that trading in Twitter’s stock had been suspended, with “merger effective” as the reason given.
Yoshitsu Co. Ltd is a Japanese Sleeper Stock That is Quietly Kicking Off a Global Expansion Strategy
WealthyVC.com Kicks Off Coverage of the Emerging and Recession Resilient Cosmeceuticals Industry
Kanye West No Longer a Billionaire After Adidas Cut Ties With Hip Hop Mogul For Antisemitic Remarks
Did you enjoy this article? If so, consider signing up for the Wealthy VC Email Newsletter below to receive our free weekly newsletter featuring the week’s best articles.
Follow Wealthy VC on Social Media: Facebook | Instagram | Twitter | LinkedIn | GETTR | Tumblr
📈Join the Discussion in the Wealthy VC Investor Group
💡Have a Stock Tip or New Story Suggestion? Email us at Invest@WealthyVC.com
Disclaimer: Wealthy VC does not hold a long or short position in any of the stocks mentioned in this article.