The Tool Desk
Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Elon Musk’s acquisition of Twitter began with a cash offer announced at $54.20 per share, then turned into a public contract dispute before the deal closed on October 27, 2022. Twitter later became X, and the company’s ownership structure changed again in 2025 and 2026. Those events—and a separate 2026 investor-trial verdict—belong to different chapters of the timeline.
The Twitter acquisition and its aftermath, by date
April 25, 2022: Twitter announces the acquisition agreement
Twitter announced a definitive agreement for an entity wholly owned by Musk to acquire the company for $54.20 per share in cash, valuing the transaction at approximately $44 billion. The company’s SEC-filed announcement described $25.5 billion in committed debt and margin-loan financing and approximately $21.0 billion in equity commitment. Those were the announced financing commitments, not a statement of the exact final funding mix.
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Twitter said that, if the transaction were completed, it would become privately held. Its merger FAQ also explained that Twitter common stock would no longer be publicly traded on the New York Stock Exchange after closing.
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1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitchesJuly 8–12, 2022: Musk purports to terminate; Twitter sues
Twitter’s 2022 proxy statement says Musk’s representatives delivered a notice on July 8 purporting to terminate the merger agreement. On July 12, Twitter filed suit in Delaware’s Court of Chancery, seeking to enforce the agreement and require the transaction to close. The termination notice and the parties’ positions in that contract dispute should not be confused with a court finding that either side’s disputed claims were true.
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October 27, 2022: The merger closes and Twitter goes private
Twitter’s October 2022 SEC filing states that the merger became effective on October 27. Eligible shares were converted into a right to receive the merger consideration, and Twitter became a privately held company. The agreement therefore closed despite the earlier attempt to terminate it and the ensuing lawsuit.
July 23, 2023: Twitter is rebranded as X
A secondary chronology dates the rebrand to July 23, 2023. This is a reported timeline date, rather than a milestone established here by a primary corporate filing.
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March 28, 2025: xAI acquires X
A later SpaceX SEC filing says xAI acquired X on March 28, 2025, making X a wholly owned subsidiary of xAI. This was a later corporate-ownership change, not a revision to the fact that Musk’s acquisition of Twitter closed in 2022.
February 2, 2026: SpaceX acquires xAI
The same SEC filing says SpaceX acquired xAI on February 2, 2026. In the ownership chain described by that filing, X was already a wholly owned subsidiary of xAI; the SpaceX transaction came afterward.
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March 20, 2026: A separate investor trial produces a partial verdict
The Associated Press reported that a jury found Musk liable for misleading investors through two statements related to his proposed purchase of Twitter, while rejecting a separate claim that he schemed to defraud investors. AP also reported that Musk’s legal team said it would appeal. That case concerned statements to investors during the proposed acquisition; it was not the Delaware contract suit over whether the merger agreement had to close. The verdict was reported on March 20, 2026; the latest docket status is not established here.
Quick Recap
How the two legal cases differ
| Case | Issue | Forum | Outcome established here |
|---|---|---|---|
| 2022 merger-contract dispute | Whether the acquisition agreement would be enforced after Musk’s representatives purported to terminate it. | Delaware Court of Chancery. | The merger closed on October 27, 2022. |
| 2026 investor case | Whether statements related to the proposed purchase misled investors, including a separate fraud-scheme claim. | Federal jury trial in California. | AP reported a partial liability verdict on March 20, 2026; the latest motions and appeal status are not established here. |
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