Elon Musk’s Twitter bid faces major skepticism on Wall Street
2022-04-16 09:44:23 source：CNBC
April 15, 2022
It’s not often that a company receives a takeover bid that amounts to an 18% stock premium only to see its shares fall on the news.
That’s what happened to Twitter on Thursday after Tesla CEO Elon Musk submitted a bid to buy the company for $54.20 a share, or about $43 billion. The stock dropped 1.7% to close at $45.08 for a market cap of $34 billion.
In other words, investors don’t expect the deal to happen. Analysts at Stifel went so far as to downgrade the stock to a sell on Thursday, saying the company faces a “full blown Elon circus.”
Read more:
https://www.cnbc.com/2022/04/15/elon-musks-twitter-bid-faces-major-skepticism-on-wall-street-.html