Report: Twitter Strikes Deal with Activist Investors to Keep Jack Dorsey as CEO

Social media website Twitter has reportedly struck a deal with investment firms Silver Lake and Elliott Management that keeps Jack Dorsey in his role as CEO. CNBC reports that Twitter has reached a deal with investment firms Elliot Management and Silver Lake, shortly after Elliott’s attempts to oust Jack Dorsey as CEO. The newly agreed-upon deal does not change Dorsey’s role as CEO of Twitter and includes a $1 billion investment in Twitter from Silver Lake. As a result, the firm will fund a $2 billion share repurchase program.-- More...