Musk’s Deal on Twitter Force NYSE to Delist the Social Media
- The $44 billion acquisition deal is anticipated to be finalized by Musk before this weekend.
- Elon Musk changed his Twitter biography to read “Chief Twit”.
The Twitter [TWTR] deal with Elon Musk is finally being completed. Musk is getting closer to acquiring the platform after several setbacks. In the midst of all of this, it became known that TWTR was being delisted from the NYSE.
According to certain sources, NYSE announced that TWTR would be suspended on Friday. The $44 billion acquisition deal is anticipated to be finalized by Musk before this weekend. Even the $13 billion of the $44 billion needed to complete the deal has begun to be funded by several banks.
Musk Updates Bio to Chief Twit
Regarding Elon Musk’s takeover of Twitter, there have been numerous rumors. One of them was that 75 percent of the workers at the social media company would be let go by Musk. Musk, however, insisted that he would not do so. The Tesla CEO even went on to change his bio to “Chief Twit” ahead of his acquisition of the platform. The Twitter CEO also paid a visit to its San Francisco headquarters on Wednesday while carrying a sink through the building’s hallways. Let that sink in, he wrote in the caption of a video he posted of his trip to Twitter HQ.
Elon Musk is heard saying that he was trying to sink in while being seen carrying the sink in the video. Before the deadline for closing the deal, Leslie Berland, the chief marketing officer of Twitter, reportedly informed the staff via email that Musk intends to stop by the San Francisco office. However, the Tesla CEO called off the agreement in July, claiming Twitter’s top executives had broken it by exaggerating the number of spam and fake bot accounts.
In response, Musk was sued by Twitter, which claimed that he had used the bots as an excuse to back out of the agreement. Musk announced last week that he will proceed with the transaction at the originally agreed-upon price of $54.20 after all. The court case concerning the agreement was then postponed until October 28 by the judge presiding over it. Therefore, the trial will continue if the agreement is not finalized tomorrow.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
