NEW YORK, April 29 ― Twitter shares climbed yesterday after reporting mixed earnings, but continued to lag the price in the company's takeover agreement with Elon Musk amid uncertainty over whether the acquisition will be completed.
Musk has taken to Twitter regularly since unveiling the US$44 billion agreement to acquire the platform and take it private, saying Wednesday, “Let's make Twitter maximum fun!” A Reuters Breakingviews column was headlined, “Elon Musk probably won't buy Twitter,” while New York University marketing professor Scott Galloway likened the Twitter-Musk agreement to an option for the Tesla CEO to buy that “I don't believe will exercise.”
Twitter had initially resisted Musk's efforts, but abruptly shifted course after Musk unveiled the finance plan last week.