Now that Elon Musk has concluded on his acquisition of the social-networking platform Twitter, what occurs to Twitter’s stock?
The agreement to make Twitter a non-public business enterprise was once performed late Thursday, in accordance to a Securities and Exchange Commission document. By Friday morning, Twitter’s inventory had already stopped buying and selling on the New York Stock Exchange, the place it had been listed on account that 2013.
Next, Twitter will get a document of everybody who was on holder of shares as of Thursday night’s closing. The biggest part of shareholders will possibly be presented by using brokerage agents, in accordance to Brian Quinn, a professor of securities regulation at Boston College.
Quinn stated that, it’s these dealers who will be paid the $54.20 owed for every share. That was once the rate Musk agreed to pay for the company, and the fee Twitter stockholders permitted through a 98% profit in September.
So most Twitter shareholders now solely want to sit down returned and wait to get paid, Quinn said. And the payout has to occur soon.
“You don’t have to do anything; your broker will handle all of that,” Quinn said. “And it will happen in the next week or so. It won’t take long.”
Main Sourses: https://www.nbcnews.com/business/business-news/what-happens-to-twitter-stock-now-going-private-rcna54531
