Twitter says Silver Lake will invest $1B as it enters into an agreement with Elliott Management to avoid ousting Dorsey and launches a $2B share buyback program
If an emerging growth company, indicate by check mark … Oana Ularu / BitcoinExchangeGuide : Jack Dorsey Keeps Title As Twitter's CEO After $2 Billion Deal With Elliott Management Kevin Raposo / KnowTechie : Tech Hangover: Jack Dorsey stays on as Twitter's CEO Andrew Hayward / Decrypt : Bitcoin backer Jack Dorsey to stay on as Twitter CEO Todd Spangler / Variety : Jack Dorsey Remains Twitter CEO After Company Makes Peace With Activist Investor James Hale / Tubefilter : Jack Dorsey To Stay CEO After Twitter Reaches Deal With Investors Elliott, Silver Lake Financial Times : Twitter/Elliott: peace in our time — Investors could welcome … Whitney Kimball / Gizmodo : Jack Survives — Jack has emerged from a harrowing week, shorts intact. Chris Mills Rodrigo / The Hill : Jack Dorsey stays on as Twitter CEO in deal with investor firm PYMNTS.com : Dorsey To Remain As Twitter CEO Amid New Investments Naga Pramod / Reclaim The Net : Jack Dorsey to remain as Twitter CEO while a “succession plan” is evaluated Matthew Wille / Input : Jack Dorsey will stay as Twitter CEO in deal with activist investors Tweets: @kadhim : Turns out the thing Twitter really needed was debt-funded share buybacks 🤷♂️ https://www.prnewswire.com/... https://twitter.com/... Sarah Frier / @sarahfrier : In the midst of all the chaos, Twitter has a truce with its activist investor allowing @Jack to stay in charge: three new board members, a Silver Lake $1B investment, and a share buyback https://www.bloomberg.com/... Andrew Hill / @andrewtghill : “While our CEO structure is unique, so is @Jack and so is this Company” - new independent directors at Twitter and a “temporary board committee that will build on our regular evaluation of Twitter's leadership structure” https://www.prnewswire.com/... Ed Bott / @edbott : Yes, share buybacks. That's obviously the answer. https://twitter.com/... Kate Conger / @kateconger : @CaseyNewton someone explained this to me earlier and I didn't fully grasp it tbh. but I think taking such a big stake from a new investor means they have to buy some back so they don't dilute existing shareholders & thus piss them off. Scott Galloway / @profgalloway : 2/ —Sycophants and stenographers (i.e., @CNBC) gathered at 10 Downing reporting that Prime Minister Dorsey has secured “Peace in our Time.” Striking how badly the media (thus far) have misread what has happened here. Scott Galloway / @profgalloway : 11/ —@jack given stay of execution, but he is walking The Green Mile as CEO. A brilliant entrepreneur/product guy, maybe Chairman? Pichette and Kordestani should be assigned Trump family status, and not be allowed to serve on boards. See above: negligent @twitterir : Here's our 8-K on today's announcement: https://www.sec.gov/... Kara Swisher / @karaswisher : Me and the Big DWG @profgalloway disagree here except for shareholder benefit. Elliot got fab viewpoint into @Twitter, Silver Lake gets an in for some $ and looks like a pal of founders and @jack lives to fight another day if he stops the whack stuff. What comes next remains TBD! https://twitter.com/... Casey Newton / @caseynewton : Thing I don't get: why do you give Twitter $1 billion to help it buy $2 billion back in stock? Finance tweeters pls help me https://twitter.com/... @nbcnews : Twitter strikes deal to keep Jack Dorsey as CEO, after an activist hedge fund recently agitated for leadership change at the company. https://www.nbcnews.com/... @ali : Twitter CEO Dorsey will keep his position after company strikes investment deal with Elliott Management, Silver Lake Some of y'all got played by an amateur PR ploy https://www.cnbc.com/... Bloomberg Asia / @bloombergasia : Twitter will appoint 3 new directors to its board as part of its truce with activist investor Elliott and private equity firm Silver Lake https://www.bloomberg.com/... Kara Swisher / @karaswisher : Listen to me and @profgalloway tomorrow as we have more thoughts https://twitter.com/... Josh Elman / @joshelman : It's great that there won't be a protracted investor battle for the future of Twitter. But with $2B it certainly feels like Twitter could spend that better on aggressive M&A or R&D instead of stock buybacks. So much more to build https://www.theverge.com/... Peter Kafka / @pkafka : This is a very temporary cease fire: A new board committee - which includes the guy who wants to fire Dorsey - will evaluate Dorsey's performance, and report back by the end of year. https://twitter.com/... Edmund Lee / @edmundlee : If you'd followed activist investor Elliot's campaign against AT&T you won't be surprised / should have anticipated the settlement with Twitter ... Elliot hasn't really gotten the things it has fought for https://www.nytimes.com/... Silver Lake / @silverlake_news : Silver Lake is excited to partner with @Twitter by investing and joining the board and we look forward to working alongside @Jack and the whole team to drive long-term innovation and success at this revolutionary company. More here: https://www.prnewswire.com/... Tariq Panja / @tariqpanja : U.S. fund Silver Lake has been busy. Few months after buying $500m stake in Man City, it makes $1 billion investment in Twitter, https://www.nytimes.com/... Anthony DeRosa / @anthony : The agreement calls for Twitter to appoint two new board members, with a promise to search for a new independent director, and make $2 billion in share repurchases. https://www.wsj.com/... Vijay Shekhar / @vijayshekhar : So happy to hear - @Jack will continue to be CEO of Twitter. https://www.wsj.com/... Peter Kafka / @pkafka : Guy who wants to fire Twitter CEO @jack Dorsey just got a seat on Twitter's board of directors. But instead of firing Jack (for now) Twitter will buy $2 billion worth of its own shares. https://www.prnewswire.com/... Sriram Krishnan / @sriramk : It's a crazy morning of news but I for one am thrilled for Twitter and @jack and @omidkordestani and all my ex-tweep colleagues there. 💪❤️ Steve Kovach / @stevekovach : Twitter has a new goal to increase mDAUs 20% https://www.cnbc.com/... Steve Kovach / @stevekovach : Twitter gets deal with Elliott. Silver Lake also investing $1 billion. Elliott and Silver Lake each get a board seat. Dorsey stays CEO. https://www.cnbc.com/... Sally Shin / @sallyshin : BREAKING: Elliott ending battle with Twitter https://twitter.com/...