Twitter (TWTR.US) stock added 5% before the opening bell after Reuters reported that the social media giant could agree a takeover deal with Elon Musk for $54.20 per share in cash, the price the Tesla (TSLA.US) CEO called his ‘best and final’ offer. It comes a day after the company’s board reportedly met Sunday to discuss a takeover bid from Elon Musk, who has already secured $46.5 billion in financing. Twitter may announce the deal later on today once its board has met to recommend the transaction to Twitter shareholders, the Reuters said.
Twitter (TWTR.US) stock rose sharply in pre-market and is currently approaching 50% Fibonacci retracement of the last downward wave. Next target for buyers is located at $54.20 – Elon Musk offer.Source: xStation5