Elon Musk Proceeds With Twitter Deal

After a Bloomberg report on Tuesday regarding Elon Musk's proceeding to acquire Twitter, Inc. (NYSE:TWTR), shares rose more than 22%. Later, it was confirmed that Musk is now looking to officially proceed with the buyout for the original offer price of $54.20 per share.

Analysts at Wedbush raised their price target to $54.20 from $50 reflecting the deal price, expecting the transaction to close over the next few weeks without any major issues once the company’s Board of Directors accepts the offer and removes the lawsuit in Delaware Court.

The analysts believe Musk knew his chances of a victory in Delaware were slim to none with the best path accepting the current deal and moving forward.