Tesla shares are investor in Elon Musk Close his $ 44 billion deal to buy Twitter..
Tesla shares closed at $ 752.29 on Friday, up 14.51%. Stock prices settled at about 2.68% at 7:48 pm ET, after continuing to rise 3.39% after normal trading hours.
Mask legal team I wrote a letter On Friday, we are officially trying to withdraw the deal to buy Twitter. The letter came after Musk publicly attacked Twitter over the social media company’s bot calculations, after calling speculation that he was about to close his deal.
The letter stated that Musk had closed the deal because Twitter had seriously violated several provisions of the merger agreement, and that the company had relied on “a false misleading statement.” “.
Tesla shareholders have expressed concern with a few other companies such as SpaceX, Neuralink and The Boring Company that Mask can operate Tesla effectively while owning Twitter. As Tesla’s stock continued its downward trajectory, their screams grew louder and louder.
In early April, Tesla’s share price was $ 1,145.45 when Musk acquired a 9.2% stake in Twitter and became the largest shareholder of a social media company. Since then, stock prices have fallen by more than 34%.
One of the biggest dips in the last few months was April 26, the day after Musk agreed to buy Twitter for $ 44 billion. Tesla’s share price has risen by more than 12% and its market capitalization has fallen to $ 906 billion.
Twitter shares, which first rose in early April, also fell after Musk announced its stake in the company. Since April 4, Twitter’s stock has fallen 26.34% and its market capitalization has risen to $ 28.31 billion. Today’s share price of $ 36.81 is well below Mask’s cash offer to Twitter, which valued its business at $ 54.20 per share.
Tesla’s shareholders may have had a moment of relief, but the Twitter-Musk story is almost over.
Twitter’s board has already promised to fight Mask. Twitter Board Chairman Bret Taylor, Tweet On Friday, “We promise to complete the transaction at the price and terms agreed with Mr. Musk and will pursue legal action to implement the merger agreement. We win the case in the Delaware Court of Equality. I’m sure. “