By Jill Goldsmith Twitter said Monday it has entered into a cooperation agreement with Elliott Management, an activist investment firm that had been pressing for changes including the possible ouster of CEO Jack Dorsey.
Dorsey will keep his job and Twitter today announced that investment firm Silver Lake, will make a $1 billion investment in the social media platform.
Elliott owns approximately 4% percent of Twitter’s common stock. Twitter expects to use Silver Lake’s investment, together with cash on hand, to fund a $2 billion share repurchase program that will be executed over time.
In connection with the investment and the agreemet, Egon Durban, co-CEO and managing partner of Silver Lake, and Jesse Cohn, partner at Elliott, will be
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