Twitter Inc shares will get suspended from trading on October 28, 2022, the New York Stock Exchange’s website showed, as billionaire Elon Musk faces a court-ordered October 28 deadline to close his $44 billion deal to buy the social media firm.
Musk, the world’s richest person, visited Twitter’s headquarters in San Francisco on October 26 and hinted he was the company’s top boss after he updated his profile bio to “Chief Twit”.
Reuters reported on Tuesday that equity investors, including Qatar Investment Authority, Binance, Sequoia Capital, and others, had gotten the requisite paperwork for the financing commitment from Musk’s lawyers.
Buy Bitcoin NowThe 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 around 1% at $53.94 in early trading on October 27.
This stock has surged by almost 65% from a 4-month low hit in July.
