Twitter shares up 5% after reports it is to accept Elon Musk’s offer

Published by

Shares of Twitter, Inc are rising almost 5% in pre-market on Monday after reports that the microblogging site’s board is set to accept an offer from Tesla founder Elon Musk as early as Monday. Musk made the non-binding proposal of about $43 billion to acquire all of the outstanding common stock of Twitter not owned by him earlier this month. Though Twitter initially adopted a so-called poison pill to fend off a potential hostile takeover, it became more receptive to the bid after Musk revealed he secured $46.5 billion in financing. Prior to that, Musk revealed in the first week of April that h…

Read More