Elon Musk-Twitter Saga: From showing interest in Twitter to cancelling the $44 billion deal, here’s how the story unfolded

The transaction has been cancelled, but Twitter isn't ready to let Musk go that lightly.

Zee Media Bureau | Jul 12, 2022, 12:42 PM IST

New Delhi: Elon Musk, CEO of Tesla, has cancelled the $44 billion Twitter deal after making bold promises about the microblogging site. Musk stated that he intended Twitter to be a free forum where individuals could share their opinions regardless of whether they aligned with Twitter's criteria or not. He was also deeply saddened by the departure of former US President Donald Trump from the platform. Musk not only asked Trump to rejoin Twitter, but he also accused the company of silencing its users by banning them. His Republican Party leanings offered Republicans a lot of hope for changing policies on Twitter. But, with Musk's cancellation of the transaction, those hopes have been dashed.

Musk lashed out at Twitter executives and publicly shamed them shortly after announcing a hostile acquisition proposal. The transaction has been cancelled, but Twitter isn't ready to let Musk go that lightly. The billionaire and the social media network will square off in court, with Twitter suing Musk for backing out of the arrangement. This is how it all began.

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Twitter legal plans

In response, Twitter stated that it intends to sue Musk for withdrawing out of the $44 billion transaction.

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Musk ending relationship with Twitter

Musk ended a three-month tumultuous relationship with Twitter on July 9. Musk declared on Friday that he was cancelling his arrangement with Twitter because the microblogging site had violated several aspects of the merger agreement.

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Twitter executives

Finally, Musk met with Twitter executives for the first time on June 16. He talked about getting Twitter healthy and reaching a million users. Musk also hinted at layoffs throughout the session.

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Musk threatening Twitter

Musk then threatened to back out of the arrangement, but Twitter agreed to give Musk whatever he wanted.

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Free Speech

Musk presumably got cold feet soon after talking big on free speech. Musk announced the suspension of the Twitter acquisition less than a week after the bid was made. He requested that Twitter offer discounts on false accounts and spam bots.

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Search for new Twitter CEO

The search for a new Twitter CEO has begun. Musk was expected to fire Parag Agrawal as soon as he took over Twitter. Musk reportedly wants former Twitter CEO Jack Dorsey to return as CEO.

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Musk on Vijay Gadde

Musk went after Vijay Gadde, the company's legal chief, publicly shaming her on Twitter. Musk slammed Gadde, saying her decision to cover a news story in 2020 was inappropriate. He followed it up on Wednesday night with a new meme aimed at Gadde.

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Musk on Donald Trump

Musk then announced his ambitions for improving Twitter. He stated that he desired free speech on Twitter. Musk stated that he will reverse the ban on Donald Trump and welcome him to rejoin the social media site.

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Twitter deal

This wasn't the only thing. Musk was not only refused a seat on the board, but he also launched a hostile takeover proposal for Twitter at $54.20 per share. Twitter took its time carefully reviewing the offer before announcing that it was selling Twitter to Musk for $44 billion.

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Parag Agrawal

Musk was welcomed as a new board member by Twitter CEO Parag Agrawal. However, only days following the announcement, another stunning story indicated that Musk had declined the offer to join the board.

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