Twitter Rises on Bloomberg Report That Musk Acquisition Moving Forward as Planned
2022.05.19 22:51
By Sam Boughedda
Investing.com — Shares of Twitter Inc (NYSE:TWTR) jumped over 2.5% in late Thursday trading following a Bloomberg report that executives told employees the $44 billion deal to sell the social media giant to Tesla (NASDAQ:TSLA) CEO Elon Musk is “moving forward as planned.”
Citing sources who attended the meeting, Bloomberg said Twitter executives stated in an all-hands meeting Thursday that there will not be a renegotiation on the agreed-upon $54.20 per share price.
Twitter’s top lawyer Vijaya Gadde was reported to have told employees the deal is not on hold.
Musk tweeted earlier this week to say the deal was on hold due to issues regarding the number of bots and spam accounts on the social media platform.
The meeting was said to have involved other top Twitter executives, including CEO Parag Agrawal, and was intended for leadership to discuss the deal and answer questions.
