London Daily

Focus on the big picture.
Wednesday, Oct 28, 2026

Elon Musk's Twitter deal - what's going on, how did we get here and what happens next?

Elon Musk's Twitter deal - what's going on, how did we get here and what happens next?

By 28 October, next Friday, Elon Musk will either own Twitter or be going to trial to attempt to force him to buy a company that he willingly made an offer for.

Elon Musk's prospective Twitter takeover has become a saga befitting of a football transfer window, with months of back-and-forth drama inevitably destined to form the basis of a tell-all book.

Now finally, half a year since the world's richest man offered to buy the social media company, Mr Musk appears close to going through with the deal.

By 28 October, next Friday, he will either close his takeover or be going to trial in a bid to force him to.

How on earth did we get here?


It started back in April, a whirlwind month that began with the self-confessed Twitter addict getting a seat on the board after becoming the firm's single biggest shareholder.

Shares in the platform surged after it was revealed he had bought a 9.2% stake worth almost $3bn, and he wasted little time in making suggestions - including an edit button and changes to the Twitter Blue subscription service.

Within a fortnight, Mr Musk had offered to buy Twitter outright, saying it was needed to uphold free speech.

"Since making my investment, I now realise the company will neither thrive nor serve this societal imperative in its current form," he said in a letter to Bret Taylor, the Twitter chairman.

"Twitter needs to be transformed as a private company."

An agreement was quickly reached, and Musk appeared serious, seemingly moving to finance the deal by selling millions of Tesla shares.

But by the middle of May, Mr Musk said the deal was "temporarily on hold".

He was not happy about the apparently unacceptable number of bots on Twitter, and - appearing far less serious - sent a poop emoji to Twitter chief executive Parag Agrawal when he questioned Mr Musk's assertions about fake accounts.

In June Mr Musk formally threatened to terminate the deal over "spam and fake accounts", and - despite Twitter promising to provide him with raw data to allay his concerns - he pulled the plug a month later.

Twitter's Parag Agrawal defended the firm's record on bots.


What's going on now?


The predicament was born from Twitter's decision to sue Mr Musk for cancelling the deal.

The chair of Twitter's board, Mr Taylor, tweeted that a lawsuit had been filed in Delaware, where the company is incorporated, "to hold Elon Musk accountable to his contractual obligations".

Despite the legal action, Mr Musk seemed determined to get out of the deal and subpoenaed a Twitter whistleblower who claimed the company misled federal regulators about its security risks.

A court document revealed that he also issued a subpoena to his friend Jack Dorsey, the former Twitter boss.

It was all with a view to the lawsuit going to trial in Delaware on 17 October - and then everything changed. Again.

Less than two weeks before the case was due to begin, Mr Musk proposed to go ahead with buying Twitter at $54.20 a share - a total value of $44bn (£38.4bn).

Just when we thought we were out, he pulled us back in.

Twitter shareholders and lawyers - once bitten, twice shy and all that - have seemed understandably dubious, and a Delaware judge pushed the trial date to give Mr Musk time to get his finances in order.

His deadline is 28 October.

Jack Dorsey was to be subpoenaed if the case went to trial


And what happens next?


Who knows?!

But seriously, this time Mr Musk appears to be genuine about going through with the deal - and the fast-approaching deadline means it could be announced any day now.

If, for any reason, the deadline was missed, it would lead to a trial in November.

Newsletter

Related Articles

0:00
0:00
Close
Met Office Issues Extended Forecast Highlighting Stable High Pressure Weather Patterns Across the United Kingdom
Scottish Finance Secretary Shona Robison Outlines Changes to Tax Thresholds and Residential Property Levies in Edinburgh
Financial Markets and Government Bond Yields Remain Stable Following Muted Reaction to Autumn Budget Measures
Defence Committee Chair Tan Dhesi Criticizes Budget for Delaying Critical Defence Spending Decisions to Next Year
International Monetary Fund Forecasts United Kingdom Economic Growth at One Point Three Percent for Year
Office for Budget Responsibility Assesses Fiscal Headroom Reduced to Fifteen Billion Pounds Following Global Energy Shocks
Chancellor John Healey Delivers First Autumn Budget Introducing Household Energy Support and Bank Tax Hikes
Aberdeen City Council Co-Leader Faces Binding Vote Challenge as Local Councillors Launch High Court Legal Battle
Housebuilding Across Scotland Falls to Eleven-Year Low Despite Government Declarations of a Housing Emergency
Former Prime Minister Gordon Brown Organizes National Innovation Summit in Manchester to Boost Regional Competitiveness
UK Government Faces Mounting Criticism Over Lack of Environmental Consultation During Artificial Intelligence Datacentre Expansion Talks
Greggs Announces Closure of Four Major Manufacturing Facilities Across Britain Resulting in Seven Hundred Forty Job Losses
British Retail Consortium Warns That Cumulative Employment and Regulatory Costs Threaten High Street Price Stability
Lloyds Banking Group Chief Executive Charlie Nunn Warns That Increased Bank Taxes Could Deter Long-Term Economic Investment
Ipsos Polling Reveals Seven in Ten Britons Expect Personal Tax Increases Amid Deep Public Economic Pessimism
Chancellor John Healey Delivers First Autumn Budget in Parliament Amid Tight Fiscal Constraints and Slower Growth Forecasts
United Kingdom Finance Monthly Review Highlights Rising Long-Term Borrowing Costs and Persistent Energy Price Pressures Across British Markets
Royal Marines Pioneer Rapid Autonomous Drone Operations During Major High North Exercise Involving NATO Allies
House of Commons Justice Committee Urges Chancellor to Align Prison and Courts Reform Ambitions With Concrete Budgetary Resources
Government Investigates Rapid Artificial Intelligence Datacentre Expansion Strategy Following Scrutiny Over Power Grid Demands and Planning Backlogs
His Majesty's Inspectorate of Constabulary Warns Third-Party Supplier Breaches Threaten United Kingdom Police and Fire Service Data
Number of British Businesses in Financial Distress Reaches Highest Level in Two Decades Ahead of Fiscal Announcement
Chancellor John Healey Prepares Autumn Budget Amid Intense Market Scrutiny Over Fiscal Headroom and Spending Pressures
Education or Indoctrination? The Growing Debate Over Religious Participation in British Schools
Germany's Vanishing Shopfronts: The Silent Collapse of the Businesses That Built Its Cities
Northern Ireland Executive Reaches Agreement on Public Transport Modernization and Cross-Border Rail Infrastructure Funding
Department for Energy Security and Net Zero Approves New North Sea Carbon Capture and Storage Industrial Clusters
Office for National Statistics Reports Stabilization in Private Rental Growth Across Major English and Welsh Regional Cities
United Kingdom Automotive Manufacturing Output Rises Moderately as Electric Vehicle Assembly Lines Expand in the Midlands
Competition and Markets Authority Launches Formal Inquiry Into Cloud Computing Infrastructure and Artificial Intelligence Partnerships
Scottish Government Finalizes Emergency Budget Adjustments Following Multi-Year Public Sector Funding Shortfalls
National Health Service England Announces Major Emergency Care Overhaul to Alleviate Severe Winter Capacity Pressures
Chancellor Rachel Reeves Prepares Autumn Budget Amid Intensifying Scrutiny Over Public Spending and Fiscal Rules
Bank of England Signals Cautious Approach to Further Interest Rate Cuts as Persistent Wage Growth and Inflation Pressures Remain
Transport for London Unveils Expanded Zero-Emission Bus Fleet to Meet Capital Air Quality Targets
Higher Education Institutions Face Deepening Financial Strain Amid Declining International Student Enrolment
Automotive Industry Leaders Criticize Government Tax Policies and Urge Action on Retail Consumer Confidence
Environment Agency Issues Flood Alerts Across Scottish and English Waterways Following Heavy Rainfall
Independent Audit Highlights Persistent Security Vulnerabilities Across Legacy Government Digital Portals
Northern Ireland Political Leaders Clash Over Westminster Funding Allocations Ahead of Autumn Budget
Ethnic Minorities in England Face Significant Disparities in Routine Breast Cancer Diagnosis Rates
National Police Chiefs Report Alarming Surge in Domestic Abuse Cases Fuelled by Expanding Illegal Cocaine Market
Government Announces Two Hundred and Twenty Million Pound Pothole Funding Boost for Local Highway Authorities
China Issues Formal Warning Over Potential United Kingdom Restrictions on Chinese Electric Vehicles
British Defence Ministers Sign E5 Pact to Enhance European Military Capabilities and Industrial Cooperation Within NATO
United Kingdom Business Activity Expands at Fastest Pace in Eight Months According to S&P Global Flash Survey
Chancellor John Healey Prepares Major Devolution Package and Bank Profit Surcharge Ahead of Upcoming Autumn Budget
National Health Service Consultants in England Announce Two-Day Strike Action Scheduled for November
Major Clean-Up Under Way Across Britain Following Destruction Caused by Consecutive Storms Austen and Boelo
KEY TRENDS TO WATCH
×