Twitter shares will be suspended from trading: NYSE

The New York Stock Exchange website shows that Twitter’s shares will be suspended on Friday as the world’s richest man Elon Musk faces a court-ordered October 28 completion of his lawsuit against the company. Deadline for a $44 billion acquisition of the social media platform.

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Moreover, Musk visited Twitter’s headquarters in San Francisco on Wednesday and updated his Twitter account profile to “Chief Twit (Twitter boss)”, implying that he is already the boss of the company.

In a new video released by Musk, he entered the Twitter building holding a sink and wrote: “Entering the Twitter headquarters building, time to think about this let that sink in.”

Reuters reported on Tuesday that equity investors including Sequoia Capital, Binance, Qatar Investment Authority, and others have received the necessary documents from Musk’s lawyers for the funding commitment. That means Musk will comply with a Delaware judge’s order to close the deal by Friday.

The closing of the deal would mark the end of litigation by Twitter Inc., which, along with investors, now expects the deal to close on the original terms of $54.20 per share. Twitter’s shares closed at $53.35 on the New York Stock Exchange on Wednesday, just below Musk’s offer price.

(via)