Twitter strikes investment deal with Elliott Management, Silver Lake after attempt to oust CEO Jack Dorsey

Twitter CEO Jack Dorsey addresses college students all through a town hall at the Indian Institute of Technologies (IIT) in New Delhi, India, November 12, 2018.

Anushree Fadnavis | Reuters

Twitter has reached a offer with investment decision companies Elliott Management and Silver Lake, the corporation introduced Monday. The deal arrives soon after Elliott’s attempt to oust Jack Dorsey as CEO.

The offer, which does not improve Dorsey’s function as CEO, contains a $1 billion expenditure in Twitter from Silver Lake. As a result, the business will fund a $2 billion share repurchase method, in accordance to the announcement. 

Shares of Twitter were down much more than 3% through premarket trading but spiked on information of the offer.

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