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

FILE PHOTO: The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2016. REUTERS/Brendan McDermid

(Reuters) – Twitter Inc (TWTR.N) 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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