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TWITTER IN DEAL WITH SILVER LAKE, ELLIOTT; DORSEY STILL CEO
AppleMagazine
|March 13, 2020
Twitter says it’s reached an investment deal with Silver Lake and Elliott Management that will keep Jack Dorsey as the social media company’s CEO.
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Twitter Inc. said that Silver Lake will make a $1 billion investment in the company. That money, along with cash on hand, is expected to be put toward a $2 billion stock buyback.
Elliott Management Corp., which owns about 4% of Twitter’s stock, will get one seat on Twitter’s board. Silver Lake will also get a board seat.
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