Twitter shares to be suspended on NYSE ahead of Musk takeover
Twitter shares traded higher by 1% in extended hours, putting shares at $53.90, slightly below the offer price
Elon Musk will be the proud owner of Twitter: Mark Mahaney
Evercore ISI fundamental research analyst Mark Mahaney and EVannex CEO Matt Pressman join 'The Claman Countdown' to react to Musk addressing his potential Twitter deal on Tesla's Q3 earnings call.
Elon Musk's $44 billion takeover of Twitter is moving closer to the court-ordered Oct. 28 deadline.
Ahead of that, Twitter shares will be suspended from trading on Friday, according to the New York Stock Exchange's website.
Musk 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".
The Tesla chief executive posted a video to his Twitter account on Wednesday showing him carrying a sink into the building with the caption "Entering Twitter HQ – let that sink in!"
ELON MUSK VISITS TWITTER HEADQUARTERS AHEAD OF $44B ACQUISITION DEADLINE
During Musk's visit to Twitter headquarter, he reportedly told employees that he does not plan to cut 75% of staff, according to Bloomberg.
Billionaire Elon Musk with Twitter graph in background. ( Getty Images / Getty Images)
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.
ELON MUSK PLEDGES TO CLOSE TWITTER ACQUISITION BY OCT. 28 DEADLINE
Elon Musk has changed his Twitter profile description to "Chief Twit" ahead of Friday's court-imposed deadline to close his $44 billion acquisition of the social media giant. (Elon Musk via Twitter / Fox News)
Completion of the deal would end the lawsuit by Twitter, which, along with investors, now expects the deal to be completed on its original terms of $54.20 per share.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | NO DATA AVAILABLE | - | - | - |
Shares of Twitter gained 1% in extended trading to $53.90, slightly below the offer price.
Reuters contributed to this report.