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Using Twitter stock to fund the takeover, Twitter announced in July 2008 it had acquired Summize. Summize had six employees, all of whom joined Twitter except for Verdy. [1] The month of the acquisition, Twitter changed both its page for real-time searches and its search API to use Summize's product. [2]
However, under a 45-day "go shop" clause, a later bid by BlackRock was announced on 11 June 2009 for the whole of the parent division Barclays Global Investors including iShares, in a mixed cash-stock deal worth around US$13.5 billion (37.8 million shares of common stock and US$6.6 billion in cash).
Elon Musk completed his acquisition of Twitter in October 2022; Musk acted as CEO of Twitter until June 2023 when he was succeeded by Linda Yaccarino.In a move that, despite Yaccarino's accession, was widely attributed to Musk, [1] [2] Twitter was rebranded to X on July 23, 2023, [3] and its domain name changed from twitter.com to x.com on May 17, 2024.
The Twitter cofounder previously backed the Tesla CEO in his takeover of the company but walked back his support earlier this year, telling a member on rival social media platform Bluesky, "It all ...
In a complaint filed in Washington, D.C. federal court, the SEC said Musk violated federal securities law by waiting 11 days too long to disclose his initial purchase of 5% of Twitter's common shares.
Chances are you won't have to look hard to find news about Elon Musk's acquisition of Twitter today on your news feed. It is not every day that the world's richest man buys a product that is used ...
Twitter's stock sank by 7 percent after the news, dropping by a further 11 percent the next day. [107] On July 10, Twitter hired the law firm Wachtell, Lipton, Rosen & Katz to represent its case, including "key lawyers" William Savitt and Leo Strine, [108] along with Potter Anderson & Corroon, Ballard Spahr, Kobre & Kim, and Wilson Sonsini ...
By Sheila Dang (Reuters) - Overspending on Twitter Inc for $44 billion was the easy part. Now, Tesla Inc Chief Executive Elon Musk must prove why he believes that Twitter is worth 10 times that ...