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Twitter shares to be suspended on NYSE as Musk nears takeover

Published 10/27/2022, 02:29 AM
Updated 10/27/2022, 05:02 PM
© Reuters. FILE PHOTO: Elon Musk's Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Twitter Inc shares will be suspended from trading on Friday, the New York Stock Exchange's website showed, as billionaire Elon Musk faces a court-ordered Oct. 28 deadline to close his $44 billion deal to buy the social media company.

Musk, the world's richest person, visited Twitter's headquarters in San Francisco on Wednesday and hinted he was the company's top boss after updating his profile bio to "Chief Twit".

Reuters reported on Tuesday that equity investors, including Sequoia Capital, Binance, Qatar Investment Authority and others, had received the requisite paperwork for the financing commitment from Musk's lawyers.

The deal's completion would mark an end to a lawsuit by Twitter, which, along with investors, now expects the deal to be completed on its original terms of $54.20 per share.

Twitter's shares were up about 1% at $53.94 in early trading on Thursday.

The stock has surged nearly 65% from a four-month low hit in July.

Latest comments

Quite a snowflake storm emanating from TWITS headquarters.  Starting to accumulate. Funny though, the snow is green and purple...as if dyed.  Lots of rings, studs and other metallic hardware too.  It all appears to be melting.
Not everybody wears coveralls and a mullet.
yeah.. close the trading because they wouldn't want Musk to get a good deal?
You see a conspiracy around every corner.
Elon Musk himself is a manipulator. Through his sudden abrupt announcements, he causes drastic moves in shares of his companies that impact the overall market.
 obvious truths are NOT "conspiracies" Braaaaad...
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