Shares of the company will be suspended as Tesla CEO Elon Musk completes the Twitter acquisition.
Musk is struggling to complete the transactions as he comes to the final stage of his $44 billion Twitter purchase. Musk also said during a video conference call that the purchase agreement will be completed on October 28. The New York Stock Exchange (NYSE) also took a step to protect investors during acquisitions.
Elon Musk’s Twitter Acquisition Nearly Completed
Tesla and SpaceX CEO Elon Musk is about to finalize the Twitter deal. Musk has already updated his Twitter bio to “Chief Twit.”
Announcing that he had withdrawn from the agreement, claiming that he did not receive enough information about bot accounts after he first made a $44 billion bid, Musk changed his stance after Twitter brought the case to the judiciary. Musk reiterated his previously agreed-upon $44 billion buyout offer on Oct. The company soon accepted this offer.
While the acquisition deal is expected to close on October 28, the NYSE will close its stock trading on Friday to protect investors in case of volatility.
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