March 9, 2020 / 1:15 PM / 19 days ago

Twitter grants Elliott board seat, Silver Lake invests $1 bln

March 9 (Reuters) - Twitter Inc announced a deal with Elliott Management and private equity firm Silver Lake on Monday, handing both board seats after a month in which activist investors were said to be pushing for the removal of Chief Executive Officer Jack Dorsey.

Under the deal, Silver Lake will invest $1 billion, which the microblogging platform will use to fund a $2 billion repurchase program, Twitter said. (Reporting by Supantha Mukherjee in Bengaluru; editing by Patrick Graham)

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