A new filing released by the Securities and Exchange Commission on May 17 revealed further details of Elon Musk’s $44 billion deal to take Twitter private, giving the public a more complete picture of the negotiations leading up to the acquisition.
The filing, submitted by Twitter Inc., describes a series of close negotiations between Musk and Twitter co-founder and former CEO Jack Dorsey, in which Dorsey appeared to encourage Musk in his takeover of the company.
Notably, the filing details how Dorsey personally counseled Musk that the company would be better positioned under private ownership, ahead of Musk’s decision to buy the company outright. Musk subsequently offered Dorsey the opportunity to remain on the board despite his existing plans to depart, but Dorsey declined the offer….