Twitter Inc shares will not trade on Friday, according to the New York Stock Exchange. Elon Musk, a billionaire, has been given an Oct. 28 deadline by a court to close his $44 million deal to purchase the social media company.
After changing his profile bio to “Chief Twt”, Musk, the richest man in the world, visited Twitter’s San Francisco headquarters on Wednesday.
@Twitter (NYSE $TWTR) shares will be suspended from trading on Friday, the New York Stock Exchange's website showed, as billionaire #ElonMusk faces a court-ordered Oct 28, deadline to close his $44 billion deal to buy the social media company.pic.twitter.com/VbmY86Os7P
— Share_Talk ™ (@Share_Talk) October 27, 2022
Reuters reported Tuesday that equity investors including Sequoia Capital and Binance, Qatar Investment Authority, and others had received the paperwork necessary for Musk’s financing commitment.
Twitter and investors now expect the deal to close on its original terms, $54.20 per share.
Twitter shares rose by 1% to $53.94 during early trading on Thursday
Nearly 65% has been achieved since July’s four-month low.
