HomeLifestyleTrading of Twitter shares will stop from tomorrow, the court gave this...

Trading of Twitter shares will stop from tomorrow, the court gave this order to Musk, know full details

Highlights

Trading of Twitter shares on the New York Stock Exchange will stop from October 28.
Elon Musk has received an order from the court to complete the process of taking over Twitter.
Elon Musk updated “Chief Twit” in the bio of his profile.

New Delhi. Regarding the stock of microblogging site Twitter, news is coming from the New York Stock Exchange (NYSE) that trading of its shares will stop from Friday, October 28. Actually, the deal of Twitter and Elon Musk has now taken a new turn, due to which this is happening. Musk has received an order from the court that he has to complete the process of acquisition of Twitter by October 28 in any case. Failure to do so will result in legal action being taken against them.

Complying with the court order, Musk is proceeding with the process of buying Twitter. Due to this, trading of Twitter shares has been stopped before the takeover. Let us tell you that Elon Musk had earlier announced the acquisition of Twitter, but then announced the cancellation of the deal. Now a new twist has come in this deal with the decision of the court.

Musk wrote ‘Chief Twit’ in his bio
Elon Musk, the world’s richest man, offered $4,400 million to buy Twitter. On Wednesday, Musk visited Twitter’s headquarters in San Francisco. At that time he behaved as the top boss of the company. He has updated “Chief Twit” in the bio of his profile. From this there are indications that Musk is taking this deal forward.

Also read – There has been a decline in the number of tweets of the most active users of Twitter, know what is the reason

Twitter’s share price hit by Musk’s offer
Elon Musk has offered $54.20 per share to buy Twitter’s holdings. Twitter’s shares closed on the New York Stock Exchange on Wednesday at a price of $ 53.35. This is about 1.5 percent less than the price offered by Musk.

what will happen next
A deal was struck between Elon Musk and Twitter in April, but Musk later backed down due to fake accounts and bots. Twitter had put legal pressure on Musk to complete the deal. On which, while giving the verdict, the court has asked Musk to complete this deal by October 28 at any cost. After the completion of the deal between Twitter and Elon Musk, the ongoing controversy about it will end.

Tags: Elon Musk, Share market, stock market, Twitter, Twitter Controversy

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