Twitter ($TWTR) to be delisted from NYSE following Musk’s deal

Sahana Kiran
Source – Unsplash

Elon Musk’s Twitter [TWTR] deal is finally coming through. The Tesla CEO has been trying long and hard to get social media giant Twitter under his wing. After multiple fallouts, Musk is inching closer to acquiring the platform. Amidst this, it was brought to light that TWTR was being delisted from the New York Stock Exchange [NYSE].

As per a recent delisting notice from the NYSE, TWTR would be ousted from the platform on October 28, 2022.

As seen in the below image, NYSE posted that TWTR would be suspended on Friday.

It should be noted that Musk is expected to close the $44 billion acquisition deal before this weekend. Several banks have even initiated the funding of the $13 billion of the $44 billion required for the deal to come through.

At press time, TWTR recorded a 1.08 percent surge.

Elon Musk to retain Twitter employees?

There have been a plethora of rumors regarding Elon Musk’s Twitter takeover. One among them was that Musk would be ousting 75 percent of the employees at the social media firm. However, Musk affirmed that he would do no such thing.

Just yesterday, Musk made news following his visit to Twitter’s headquarters. What surprised the community, even more, was his entry with a sink along with his location as Twitter headquarters.

The Tesla CEO even went on to change his bio to “Chief Twit” ahead of his acquisition of the platform.

Amidst all of this, Musk assured the employees at the firm that he did not plan on slashing 75 percent of the staff following his takeover. He even went on to tweet,

“Meeting a lot of cool people at Twitter today!”

Additionally, the community felt reassured that Musk’s most recent deal would succeed in light of everything going on.