Twitter legs up 7% to session high as $44 billion Musk takeover inches closer

Apr. 25, 2022 12:54 PM ETTwitter, Inc. (TWTR)By: Jason Aycock, SA News Editor31 Comments

Elon Musk Visits Germany

Maja Hitij/Getty Images News

  • Twitter (NYSE:TWTR) has ticked up again, now +6.5% to Monday's session high, as Dow Jones updates its coverage to note that an acquisition deal from Elon Musk is coming together with a $44 billion valuation, slightly higher than previously reported.
  • That's essentially what Musk promised with his first (and "best and final") offer of $54.20/share, possibly with an updated share count to account for a slightly higher valuation.
  • Failing any last-minute snags, an announcement could come after the market closes today, if not sooner, Wall Street Journal sources say.
  • Updated: Digital World Acquisition Corp., the special-purpose acquisition company taking Trump's Truth Social media platform public, has sunk 14%.
  • Updated 1:17 p.m.: Twitter stock has settled in to a 6% gain on the day to $51.85, still a bit short of Musk's $54.20/share offer. Volume has surpassed double daily average, with 97.6 million shares and counting changing hands.
  • Updated 2:09 p.m.: Reuters reports that Twitter hasn't received competing acquisition offers from companies or private-equity firms as it seems increasingly likely it's headed for a deal with Musk.
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.