Is it a distraction or is it a hostile takeover?
What Analysts Have to Say About Elon Musk's Offer To Purchase Twitter
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| What Analysts Have to Say About Elon Musk's Offer To Purchase Twitter |
Twitter's stock remained relatively unchanged after Tesla's billionaire CEO, Elon Musk, offered to buy the firm and take it private for $43 billion, a move that some experts believe marks the start of a hostile takeover, while others are doubtful.
Following Musk's all-cash bid of $54.20 per share to acquire the remainder of the firm — days after he disclosed a 9 percent stake — Twitter's stock surged as much as 3% before reducing gains.
"Twitter has a lot of potential. In a letter attached to the SEC filing, Musk wrote, "I will unlock it."
The investment group CFRA reduced Twitter from a "buy" to a "hold" rating, citing the company's current offer.
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