Twitter Shares to be Suspended on NYSE : Big news is coming out about the shares of Twitter. Let us tell you that the buying and selling of shares of Twitter on the New York Stock Exchange of America is going to be suspended from Friday. It is being told that the biggest reason behind the suspension of trading of Twitter shares is Elon Musk, the world’s richest person. Elon Musk has to complete the process of acquisition of Twitter by October 28 according to the order of the court, otherwise the case will be against him. In such a situation, Musk is proceeding on the process of buying Twitter, so the trading of Twitter’s shares has been suspended before the takeover.
Musk Updates “Chief Twit”
Let us tell you that there were indications about Musk’s progress on this $ 4400 million Twitter deal when Musk reached Twitter’s headquarters in San Francisco on Wednesday and he has started behaving as the top boss of the company. He has updated “Chief Twit” in the bio of his profile.
According to a news agency, other equity investors including Sequoia Capital, Binance and Qatar Investment Authority had received the necessary paperwork for the financing commitment from Musk’s lawyers.
Price going below Musk’s offer
It is known that to buy Twitter’s holding, Musk fixed a price of $ 54.20 per share. It closed on the New York Stock Exchange on Wednesday at a price of $ 53.35, which is about one and a half percent discount to the offer price. After the completion of Twitter’s deal with Musk, the case going on regarding this deal will end. A deal was struck between Musk and Twitter in April, but Musk later backtracked on fake accounts and bots. Twitter had put legal pressure on Musk to complete the deal, on which Musk has been asked to complete the deal by October 28 at any cost.