Twitter Inc ‘no longer exists’, now part of Musk’s X FMTNews FMTBusiness
Twitter has merged with the newly created shell firm X Corp, according to a legal document filed in a California court.
It’s unclear what the change means for Twitter, which has seen a sweeping overhaul since Musk bought the company for US$44 billion last year. The billionaire owner has in the past suggested that buying Twitter would be an “accelerant” for creating X — which he dubbed an “everything app”. Musk tweeted about the move Tuesday with the single character “X.”
Musk first set up a trio of holding companies in Delaware with a variation of the name “X Holdings” in April last year as part of his takeover bid for Twitter. Twitter was previously incorporated in Delaware, and Musk’s battle over acquiring the company took place in its chancery court.
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