Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Twitter Jumps on Fresh Deal Hopes After Musk Increases Commitment to $33.5B: CNBC

Published 05/26/2022, 05:02 AM
© Reuters

By Yasin Ebrahim

Investing.com -- Twitter rallied in afterhours trading Wednesday on further signs that Elon Musk has increased his conviction in getting the $44 billion deal to take the social media company private over the line. 

Twitter (NYSE:TWTR) was up 7% in afterhours to $37.16, though that is still below the $54.20 a share take-private offer.    

Musk increased his commitment in the Twitter deal to $33.5 billion from $21 billion. 

The news eased fears that Musk was potentially looking at walking away from the deal, or negotiating lower prices after the Tesla CEO flagged concerns about the number of fake accounts on the social media platform.      

Musk is also in talks with Twitter founder and former chief executive Jack Dorsey and others to "help finance, or roll their shares over, to complete the deal," CNBC reported.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.