Timeline: Elon Musk’s abandoned Twitter takeover

theguardian.com:

Elon Musk has said he intends to terminate his $44bn deal to buy Twitter because the social media company has breached multiple provisions of the merger agreement.

Twitter said it would pursue legal action to enforce the deal.

Below is a timeline of the Twitter takeover saga.

4 April – Elon Musk discloses over 9% stake in Twitter

5 April – Twitter says Musk will join company’s board

10 April – Musk says he will not join Twitter’s board

14 April – Musk offers $54.20 a share, a 38% premium to Twitter’s 1 April closing price

15 April – Twitter adopts poison pill to protect company from takeover in next session

21 April – Musk lines up $46.5bn in financing for the deal

25 April – Twitter board accepts Musk’s offer

29 April – Musk sells Tesla shares worth over $8bn in bid to finance takeover

2 May – Musk seeks to get more external investors in next session

5 May – Musk discloses $7.14bn funding

11 May – Twitter co-founder Jack Dorsey says he will not return as CEO after Musk takeover

13 May – Musk says Twitter deal on hold pending review of spam and fake accounts. Later tweets that he remains committed to the deal

25 May – Twitter investors vote against re-electing Musk ally to board in the next session

26 May – Musk sued by Twitter investors for stock “manipulation” during takeover

6 June – Musk threatens to walk away from the buyout deal if Twitter fails to provide data on spam and fake accounts

8 July – Musk says he is terminating the deal because Twitter breached multiple provisions of the merger agreement Twitter said on Friday that it planned to sue Musk to complete the merger.