'Chief Twit!' Tesla CEO Elon Musk completes $44billion deal to take control of Twitter

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Tesla boss Elon Musk has completed his $44billion (£38billion) deal to take control of Twitter, according to reports. The billionaire was given an ultimatum to finalise the deal by October 28 or he would be taken to court by the company.

The deal between the social media giant and Mr Musk was initially made in April this year.

However, the SpaceX founder soon cast doubts on his intention to follow through on the deal.

He claimed that Twitter had not been transparent about the number of bots and fake accounts on the service, while they countered that by claiming they would sue him if he terminated the deal.

Twitter had alleged Mr Musk refused to “honour his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests”.

Earlier this month, Mr Musk said he would follow through and acquire Twitter at the original share price promised if the site dropped its litigation.

He arrived at the headquarters earlier this week carrying a sink and updated his Twitter followers on the occasion, saying “Entering Twitter HQ – let that sink in!”

Mr Musk also updated his Twitter description to “Chief Twit”.

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Mr Musk also reportedly sacked Twitter’s CEO Parag Agrawal, chief financial officer Ned Segal and legal affairs and policy chief Vijaya Gadde.

According to some reports, Mr Agrawal and Mr Segal were at the site’s headquarters at the time of the takeover and were escorted from the building.

Had Mr Musk failed to reach the October 28 deadline for his takeover, a judge in Delaware – the US state where Twitter is incorporated – would have arranged a trial for November, Sky News has claimed.

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