SEC filing: Elon Musk has taken over Twitter, shares delisted
The SEC filing confirms that Elon Musk has taken over Twitter, and its shares have been taken off the New York stock exchange, reports our global technology editor Dan Milmo.
The merger between Twitter, Inc. and X Holdings II, Inc., a wholly owned subsidiary of X Holdings I, Inc., wholly owned by Elon R. Musk became effective on October 27, 2022.
Each share of Twitter, Inc. Common Stock was exchanged for USD 54.20 in cash, without interest and less any applicable withholding taxes.
The Exchange also notifies the Securities and Exchange Commission that as a result of the above indicated conditions this security was suspended from trading before market open on October 28, 2022.
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Former US president Donald Trump said he was happy Twitter was in “sane hands”.
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Senior politicians have warned Elon Musk over content moderation on Twitter, with the EU stressing the platform will “fly by our rules” and a UK minister expressing concerns over hate speech under the billionaire’s ownership.
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Our other main stories today:
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The US oil giants ExxonMobil and Chevron have announced huge profits, dwarfing Shell’s $9.5bn. Texas-based ExxonMobil’s profits tripled to close to $20bn in the third quarter, nearly matching Apple’s profits, while Chevron was $11.2bn in the black. President Joe Biden blasted Exxon for making “more money than God” in the summer.
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Profits at the world’s biggest oil companies have soared to nearly £150bn so far this year as Russia’s war on Ukraine pushed up energy prices, according to estimates from analysts.
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The German economy surprised with growth of 0.3% in the July to September quarter, defying fears of a recession. It eked out 0.1% growth in the previous quarter. However, annual inflation in Europe’s biggest economy jumped to 11.6% last month, with food prices up 20%.
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Pre-tax profits at NatWest Group remained flat between July and September at £1.1bn, amid a worsening economic outlook and a cost of living squeeze on its customers, as the bank predicted UK house prices would fall by 7% next year.
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Airline revenues at British Airways’ owner have returned to pre-Covid levels, the group has announced, as it increased its profit forecasts despite a summer of disruption.
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Rail users have plenty of horror stories about their experiences and the train operator Avanti is on a deadline to fix its problems.
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The UK’s biggest gas storage site has been brought back in time for what could be one of the tightest winters for years for energy suppliers trying to meet demand.
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I am now handing over to our US team. Thank you for reading. – JK
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The SEC filing confirms that Elon Musk has taken over Twitter, and its shares have been taken off the New York stock exchange, reports our global technology editor Dan Milmo.
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The merger between Twitter, Inc. and X Holdings II, Inc., a wholly owned subsidiary of X Holdings I, Inc., wholly owned by Elon R. Musk became effective on October 27, 2022.
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Each share of Twitter, Inc. Common Stock was exchanged for USD 54.20 in cash, without interest and less any applicable withholding taxes.
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The Exchange also notifies the Securities and Exchange Commission that as a result of the above indicated conditions this security was suspended from trading before market open on October 28, 2022.
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Former US president Donald Trump said today he was happy Twitter was in “sane hands” as Elon Musk finalised the $44bn takeover, but did not say whether he would return to his account on the platform that banned him.
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Trump said he thought his own Truth Social media platform “looks and works better.”
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“I LOVE TRUTH,” Trump wrote in a post on his platform. Trump was banned from Twitter after the deadly Jan. 6, 2021, attack on the US Capitol. Musk has said…
Read More: Twitter shares taken off stock exchange after Elon Musk seals $44bn takeover – business