Skip to content Skip to Search
Skip navigation

Timeline: Elon Musk hits pause on Twitter deal

By Reuters
Person, Human, Face Creative Commons
What next for Elon Musk and Twitter?

Elon Musk on Friday put his $44-billion Twitter offer on temporary hold, sending the shares of the social media company into a tailspin.

And on Saturday, Musk tweeted that the Twitter legal team told him he violated a nondisclosure agreement by revealing that the sample size for the social media platform’s checks on automated users was 100.

Twitter stock has consistently traded below Musk’s offer price of $54.20 per share since the announcement of the deal on April 14, wiping off over $2 billion from the company’s market capitalisation.

Timeline of the Twitter takeover saga

  • May 13    Musk says Twitter deal on hold pending review of spam and fake accounts.   
  • May 11    Twitter co-founder Jack Dorsey says he will not return as CEO if offered                            
  • May 5     Musk discloses $7.14 billion funding
  • May 2     Musk seeks to get more external investors           
  • April 29  Musk sells Tesla shares worth over $8 billion in a bid to finance takeover 
  • April 25  Twitter board accepts Musk’s offer
  • April 21  Musk lines up $46.5 billion in financing for the deal  
  • April 15  Twitter adopts poison pill to protect company from takeover 
  • April 14  Musk offers $54.20/share, a 38 percent premium to Twitter’s April 1 closing price          
  •  April 10  Musk says he will not join Twitter board            
  • April 5   Twitter says Musk will join company’s board
  • April 4   Elon Musk discloses over 9 percent stake in Twitter        

Latest articles

Women working at a textiles factory in Izmir; Turkish manufacturing has been hit by rising costs and interest rates but economic growth is still anticipated

Turkish manufacturers waver on economic prospects

Turkey’s manufacturers are uncertain about the national economy’s prospects, with a report showing a slowing of new orders and an easing of output partly being offset by stronger inventory increases and expectations of a modest release from inflationary pressures.  The latest survey of Turkish manufacturers, conducted by Istanbul Chamber of Commerce and ratings agency Standard […]

A residential complex in Dubai after last month's flooding. 'Backlogs of work increased considerably in April,' said S&P

Flooding dents UAE business confidence but optimism remains

Business and consumer confidence in the UAE was hamstrung by last month’s heavy rain and flooding, leading to the slowest increase in orders since February 2023, according to a business sentiment survey published on Friday. Private business activity in the non-oil sector still showed significant growth in April amid a “robust” economic landscape and the […]

Two to three cruise ships arrive in Bahrain every other Monday, carrying between 8,000 and 10,000 passengers

Bahrain port operator hopes to double cruise passenger arrivals

The operator of Bahrain’s biggest port has held discussions with international tour operators to try to double the number of cruise passengers visiting the kingdom next season. Khalifa Bin Salman Port is operated by APM Terminals Bahrain. It welcomed more than 116,000 cruise passengers in the last six-month season, which ran from October to March, […]