Analyst: 60% of Musk's acquisition of Twitter is likely to be completed by October 28

On October 11, Aaron Glick, a merger and arbitrage strategist at Cowen, found that 60% of Tesla's CEO Elon Musk's acquisition of Twitter was likely to be completed by the court's deadline (October 28).

"according to the informal survey I conducted last week, carry traders tend to think that if they go to court, Twitter will be able to sell at a very high price," Mr Glick said. if the deal is not completed, the guess about the average trading price of Twitter shares is about $45. "

Twitter shares traded at about $50.5 in intraday trading on Monday, and according to recent falling expectations, the chances of the deal being completed in October are about 60%, up from less than 50% at Friday's close, he said. Cowen makes the market for Twitter and does more stock options for Twitter.

Twitter shares climbed 2.4% in intraday trading on Monday to close at $50.36, ending a three-day decline. There were earlier media reports that Musk seemed to have no way to avoid fulfilling his $44 billion deal to buy Twitter.

Over the past few days, the stock has traded at a discount of more than 7 per cent to the $54.2 offer as financing uncertainty has unnerved investors about the outcome and timing of the deal.

Last week, Delaware Chancery Justice Katherine McCormick (Kathaleen McCormick) said she would set a new trial date for the case in November if the deal was not completed by October 28.