Twitter Inc. merges with X Corp and ‘no longer exists’

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. But X Corp. was set up on March 9 in Nevada with its merger with Twitter submitted on March 15, according to records filed in the state. Musk is president of the firm and its parent, X Holdings Corp., which was also set up last month and has an authorized capital of $2 million, filings show.

Twitter, which no longer has a team handling media queries, did not immediately comment on questions sent by Bloomberg News. Lawyers for the law firm representing Twitter in the case, Willkie Farr & Gallagher, also did not immediately respond to a request for comment.

The move sparked intense speculation on Twitter about what it meant, with Musk’s tweet attracting more than 13 million views within hours. In Japan, the topic “Twitter Gone” started trending, with users joking that Twitter’s new name will resemble that of a local rock band, X Japan.