A Timeline of Elon Musk’s Aggressive Attempt at a Twitter Takeover

By now, you’ve heard the news about Elon Musk’s aggressive attempt at taking over Twitter, and as the situation unfolds and new news develops on a regular basis, it makes sense that you’d be confused about the evolving story.

For many years, Twitter investors have complained that the company doesn't generate enough revenue, and many influential figures believe that the company needs to be fixed before it can reach its full potential.

Despite this, Musk’s attempt to buy the company shows just how influential and important the company really is. To help readers make sense of his aggressive takeover of Twitter, The Org has created a timeline consisting of the events which have unfolded so far.

January 31:

Musk began buying Twitter shares in daily batches, according to AP News.

March 26:

Musk tweets about how Twitter is undermining freedom of speech, and asks his followers to determine what should be done about the situation, hinting toward changes that need to be made.

April 4:

It is revealed in regulatory filings that Musk is Twitter’s largest known shareholder with a 9.2% stake in the company. On the same day, Musk asks his followers on Twitter if they would like an edit button, implying he has the influence over Twitter to enact changes, and Twitter’s shares increased by 27%.

April 5:

Twitter offers Musk a seat on its board of directors, which he initially accepts, under the condition that he would not purchase more than 14.9% of Twitter’s outstanding stock.

April 10:

Twitter CEO Parag Agrawal announces that Musk will not be joining the company’s board,which therefore allows Musk to purchase more stock in the company.

April 12:

Twitter shareholder Marc Bain Rasella files a lawsuit against Musk for fraud. Specifically, Rasella alleges that “Musk did not file a Schedule 13 with the SEC within the required time and instead continued to amass Twitter shares, eventually acquiring over a 9% stake in the Company before finally filing a Schedule 13 on April 4, 2022.”

April 14:

The WSJ reports that Musk is not Twitter’s largest shareholder, as it is revealed that the asset management company Vanguard Group holds 10.3% of the company’s stock.

Then, on the same day, Musk announces that he had made an offer to buy Twitter for $43 billion at $54.20 per share.

Once Musk makes this announcement, Twitter’s stock dropped by 1.7%.

April 15:

Twitter prepares for a “poison pill” defense against Musk’s takeover bid. A poison pill defense will allow existing shareholders at Twitter to purchase shares at the company at a discounted rate to make it more difficult for Musk to obtain majority shareholder votes in favor of his acquisition.

The poison pill defense would take effect once Musk owns at least 15% of the company’s stock.

April 18:

Twitter confirms its “poison pill” defense through an SEC filing made on April 15 and publicized April 18.

April 21:

Elon Musk receives money from a collection of banks led by Morgan Stanley which gives him enough money to purchase Twitter if he wants to, an SEC filing revealed.

Although this is the case, Musk has not yet determined if he will go ahead with his Twitter takeover.

April 25:

According to Reuters Twitter will accept Musk's inital $43 billion offer.

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