New Delhi, Oct 28: After six months of the public and legal battle over the purchase, Elon Musk finally completed his $44 billion acquisition of Twitter Inc., according to people familiar with the situation, placing the world’s richest man in charge of the faltering social network.
One of Musk’s first actions was to replace the leadership. According to persons with knowledge of the situation, departures include Twitter CEO Parag Agrawal, director of legal, policy, and trust Vijaya Gadde, chief financial officer Ned Segal, who joined Twitter in 2017, and general counsel Sean Edgett, who has served as Twitter’s general counsel since 2012.
According to two of the people who requested anonymity because the details are private, Edgett was led out of the building.
Twitter will now be a private corporation and shareholders will receive $54.20 per share. The conclusion brings to an end a complicated process that started in January with the billionaire quietly building up a sizable investment in the business, his mounting displeasure with the way it’s handled, and an eventual merger agreement that he later spent months trying to undo.
On October 4, Musk decided to move forward with the terms he had first suggested, and a Delaware Chancery Court judge granted the two parties until October 28 to complete the transaction. That deadline was met, and now Musk, who also serves as CEO of SpaceX and Tesla Inc., also has power of Twitter, which he frequently uses but openly criticises and which he has promised to fundamentally alter.
Next Story :
Hyderabad Minority Toppers Felicitation Programme Reviewed by Azharuddin
Hyderabad, August 12 (Maxim News): Telangana Minister for Minorities Welfare and Public Enterprises Mohammed Azharuddin reviewed arrangements for the Chief Minister’s felicitation programme scheduled for August 13. Here To Join Us On WhatsApp The programme will honour meritorious students from minority communities who excelled in Group I, Group II, IIT JEE, EAPCET and other competitive…
World Elephant Day 2026 celebrated at Hyderabad Zoo
Hyderabad, August 12 (Maxim News): World Elephant Day 2026 was celebrated at Nehru Zoological Park in Hyderabad on Wednesday with a special programme for four Asian elephants housed at the zoo. Here To Join Us On WhatsApp The zoo marked the occasion with an awareness programme focused on elephant conservation and the role of elephants…
Phule Statues Inauguration Set for Hyderabad on August 14
Hyderabad, August 12 (Maxim News): Chief Minister A. Revanth Reddy will unveil the statues of Mahatma Jyotiba Phule and Savitribai Phule in Hyderabad on August 14. The Phule statues inauguration will highlight the social reformers’ contribution to education and the uplift of weaker sections. Here To Join Us On WhatsApp The programme will take place…
Uppaada Coast Protection Project Gets IIT Madras Support
Hyderabad, August 12 (Maxim News): The Uppaada coast protection project in Kakinada district has moved forward with a key technical agreement. The Andhra Pradesh government has assigned IIT Madras the design and technical supervision work for the project. Here To Join Us On WhatsApp The agreement was signed at the Mangalagiri camp office on Wednesday…
HYDRAA StateWide Expansion Sought in Telangana
Hyderabad, Augsut 12 (Maxim News): Representatives from several Telangana districts have urged the state government to expand HYDRAA state wide to protect lakes, canals, parks and government land from encroachments. Here To Join Us On WhatsApp The representatives met HYDRAA Commissioner A.V. Ranganath and expressed support for the agency’s work. They said rapid urbanisation has…
Now you can get latest stories from Indtoday on Telegram everyday. Click the link to subscribe. Click to follow Indtoday Facebook page and Twitter and on Instagram. For all the latest Hyderabad News updates
