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Elon Musk sends Twitter shares to $52 at close after reviving ownership bid
Musk's Twitter ownership will come at $54.20 per share if it goes through – again
➡️ The Shortcut Skinny: Elon Musk buys Twitter – again
🙃 Elon Musk filed an SEC letter saying he was ready to buy Twitter
📈 Twitter stock closed at $52 per share, up almost 10% today
💰 The deal will be for the original bid of $44b, or $54.20 per share
✏️ Regardless of what happens, you’re still getting a Twitter edit button
Tell me if you’ve heard this one before: Space X founder Elon Musk is going to buy Twitter. Musk’s on again, off again, apparently on again Twitter deal for $44 billion has sent Twitter’s stock price up 22% today, closing at exactly $52 per share (the highest it’s been since November 16 of last year). No coincidence, today’s development happened just days before Musk and Twitter were set to go to trial.
I value the price of The Shortcut emails at $44 billion too, but I’m giving you a $44 billion discount on the free version.
Today’s $52 market close almost matches what Musk will end up paying to take the social media company private. In April, he first proposed $54.20 per share. The news that Musk was ready to follow through on buying Twitter (for real this time) was first reported by Bloomberg and caused trading of Twitter shares to be temporarily halted.
When Musk’s team sent the letter to Twitter and Twitter confirmed it, trading of the social media company opened back up. The letter says that Musk “intends to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement.”
Musk’s back-and-forth fight with Twitter didn’t end up in lowering his bidding price of the company over the last six months, but it did give us insight into the messy saga via text messages disclosures between Musk, Twitter and their inner circles.
The good news is that we’re still getting a Twitter edit button, whether or not this deal goes through. That was being worked on before Musk pitched the idea, according to Twitter. However, his desire to purge of lives of Twitter SPAM bots, is something that may finally see the light of day (and Twitter has failed to do on its own).
🤞 Will Musk be able to purge Twitter of SPAM bots and let me PS5 restock Twitter updates go scam-reply free?