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Benzinga

Business

Wayne Duggan

FOUND: Soap opera ends analysts react to musk s twitter buyout | Mind Blowing Facts

Elon Musk Nasdaq NYSE Tesla Inc. Twitter Inc. Aaron Kessler Angelo Zino Daniel Ives Justin Patterson Michael Nathanson

Controversial Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has Wall Street buzzing after social media platform Twitter Inc (NYSE:TWTR) accepted Musk's hostile takeover bid to take Twitter private for $44 billion. Twitter's board of directors accepted Musk's bid on Monday after initially fending off the buyout by adopting a so-called poison pill.

Tesla shares traded lower by 9.5% on Tuesday as Tesla investors mull the potential impact of another Musk distraction, as well as the possibility that he will sell some of his massive Tesla stake to help fund the Twitter acquisition.

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