Twitter shares to be suspended on NYSE as Musk closes toward a takeover

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Elon Musk releasing caged bird

As Elon Musk comes close to sealing his $44 billion deal with the micro-blogging platform – Twitter, the New York Stock Exchange’s website notes that Twitter Inc shares will be suspended from trading on Friday.

The billionaire was reported to have visited Twitter’s headquarters in San Francisco yesterday and signaled in a veiled reference that he was at the helm of Twitter affairs after updating his profile bio to ‘Chief Twit’. Earlier, there were reports that he may not close the deal after all.

We have also learned that equity investors, including Binance (the leading blockchain ecosystem), Qatar Investment Authority, Sequoia Capital (an American Venture Capital firm), and others, have received the requisite paperwork from Elon Musk’s lawyers for the financing commitment.

The sealing of the deal would put an end to a lawsuit filed by Twitter Inc. Musk had sent a termination letter of the Twitter deal following a whistleblower’s claims. The company along with its other investors expects the deal to proceed on the original terms of $54.20 per share.

Twitter Inc. stock closed at $53.35 on the New York Stock Exchange on Wednesday.

Source: Reuters, Image: Media tweets (Elon Musk)

News Article Courtesy Of Hemant Saxena »