Twitter Acquisition Timeline: Elon Musk's $44 Billion Deal

Elon Musk offered $54.20 a share for Twitter on 14 April 2022 and signed a roughly $44 billion agreement on 25 April. He tried to terminate it on 8 July, Twitt…

Musk becomes the largest shareholder

Musk disclosed a 9.2% stake on 4 April, was offered a board seat and declined it on 11 April.

A $54.20 bid becomes a signed deal

Musk offered $54.20 a share on 14 April, Twitter adopted a poison pill, and the board accepted a roughly $44 billion deal on 25 April.

Musk puts the deal on hold over spam accounts

Musk questioned Twitter's estimate that spam and fake accounts were under 5% of users and said the deal could not move forward until it was proven.

Musk gives notice that he is terminating

Musk's side said Twitter was in material breach over data on spam accounts. Twitter rejected the notice.

Twitter sues in Delaware to enforce the deal

Twitter sued on 12 July, won an expedited trial for October, faced counterclaims on 29 July and saw a whistleblower's claims added on 7 September.

Shareholders approve the sale

About 98.6% of votes cast approved the merger, and holders of about 59.2% of all shares voted to adopt it.

Musk says he will close, on conditions

A letter dated 3 October said Musk would close at $54.20 if he got debt financing and the court stayed the case. The court paused the trial on 6 October.

Musk walks into headquarters with a sink

Musk visited the San Francisco headquarters carrying a kitchen sink the day before closing.

Musk completes the $44 billion purchase

Each share became $54.20 in cash, Twitter became private and Musk became sole director. The deal closed before the trial.

Twitter becomes X

Layoffs followed in November 2022. The bird was replaced by an X on 24 July 2023.

Courts and regulators weigh in

xAI acquired X in March 2025. A jury found in March 2026 that Musk misled investors with two May 2022 tweets, and the SEC settled for $1.5 million.