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  • Investors think unlikely Musk buys Twitter at agreed $44 bln price

    Stock Market File Photo Stock Market

    The stock market took the view for the first time on Tuesday that it was unlikely that Elon Musk will acquire Twitter Inc (TWTR.N) for $44 billion, as he originally agreed.

    The implied probability of the deal closing at that price fell below 50% when Twitter shares hit $46.75, based on the $54.20 deal price and Twitter’s shares having closed at $39.31 on April 1, the last trading day before Musk revealed he had amassed a stake in the social media company.

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    Twitter shares fell as much as 3% to touch a low of $46.50 in afternoon trading.

    Musk, the world’s richest person and also the chief executive of electric car maker Tesla Inc (TSLA.O), on April 25 clinched a deal to buy the social media platform. read more Twitter said at the time that Musk secured $25.5 billion of debt and margin loan financing and was providing a $21 billion equity commitment.

    Musk, who is worth $268 billion according to Forbes, had said he was not primarily concerned with the economics of Twitter.

    "Having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization. I don’t care about the economics at all," he said in a recent public talk.