Twitter in deal with Silver Lake, Elliott; Dorsey still CEO

Twitter says it's reached an investment deal with Silver Lake and Elliott Management that will keep Jack Dorsey as the social media company's CEO

Twitter Inc. said Monday that Silver Lake will make a $1 billion investment in the company. That money, along with cash on hand, is expected to be put toward a $2 billion stock buyback.

Prior media reports had suggested Elliott was planning to nominate four people to Twitter's board and oust Dorsey.

Last week the company said it was testing “Fleets,” a Tweet that disappears in 24 hours, as a response to critics who say Twitter hasn't introduced very many new product features.