Twitter has reached a settlement with activist investor Elliott Management that includes tech investor Silver Lake taking a $1 billion stake in the social media giant and co-founder and CEO Jack Dorsey remaining at the helm, at least for now.
Twitter also inked a cooperation agreement with Elliott Management that will see Silver Lake’s investment, together with cash on hand, fund a $2 billion share repurchase program.
And Egon Durban, co-CEO and managing partner of Silver Lake, and Jesse Cohn, a partner at Elliott, will join the Twitter boardroom.
Read more on hollywoodreporter.com