Breaking: Elon Musk has completed his takeover of Twitter and fired the company’s CEO and CFO, people familiar with the matter say
Thursday, according to people familiar with the matter, capping an unusual corporate takeover battle and setting up one of the world’s most influential social-media platforms for potentially sweeping change.
Mr. Musk fired Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal after the deal closed, the people said. Spokespeople for Twitter didn’t comment. It wasn’t immediately clear who would step into those top positions. CNBC previously reported the firings. Mr. Musk completed the deal a day before a court-imposed deadline to complete his $44 billion acquisition of Twitter or face the prospect of a Delaware trial over the deal’s future.There were signs this week indicating that Mr. Musk was moving closer to acquiring the social-media platform by Friday’s 5 p.m. deadline. Banksbacking the deal, The Wall Street Journal reported. Mr.
Closing the deal ends a monthslong saga of whether Mr. Musk would or wouldn’t purchase the company. The deal also would put one of the world’s most prominent social-media platforms under the control of the world’s richest person, with implications for the future of online discourse.
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