Twitter shares cruise towards Musk's offer price as deal deadline looms

by geemong Czw Paź 27, 2022 8:15 am

Twitter shares cruise towards Musk's offer price as deal deadline looms

Twitter's stock inched closer to Elon Musk's US$54.20 per share buyout offer for the micro-blogging site on Wednesday (Oct 26), signaling that investors finally expect the deal to go through ahead of a court deadline at the end of this week.

In each online slot xo game. Without goals and plans, you can say that players are at risk of failing investments.

Shares of the social media company were last up 0.3 per cent at a near seven-month high of US$52.94, the closest they have come to Musk's offer since it was announced in mid-April.

"Market doubt seems to be waning but has not yet completely gone away," said Randy Frederick, managing director of trading & derivatives at Schwab Center for Financial Research.

In the six months of dramatic back-and-forth since Musk announced his bid, Twitter initially resisted the deal by adopting a poison pill and later sued the world's richest man after he announced plans to abandon his offer on concerns about spam accounts on the platform.

Twitter shares dropped as low as US$32.50 in July.

Earlier this month, Musk proposed to proceed with his original US$44 billion bid, calling for an end to a lawsuit by the social media company that could have forced him to pay up, sending Twitter shares 24 per cent higher.