Twitter’s board is thought to be close to finalising a deal to sell the social media giant to Tesla billionaire Elon Musk, sending its share price rocketing.
Twitter shares were up more than 5% in the premarket on Monday, following reports from Reuters and Bloomberg that a deal could be reached very shortly.
Prior to the US stock market opening, share trading in Twitter’s stock sent the price up 5.1% to $51.57. However, this figure is still below Musk’s offer price.
Per share, Musk offered $54.20 — $43 billion in total for the social media giant, which he has previously accused of failing to uphold free speech.
While Twitter recently adopted a “poison pill” strategy in a bid to resist a hostile takeover, some investors want to see the social media giant take Musk’s offer into serious consideration.
Just for you
Finance Monthly
Last Updated 22nd January 2024
