Twitter suspended on the NY and Mexico Stock Exchanges after buying Musk; will delist

Twitter shares were suspended in operations this Friday, October 28, both on the New York Stock Exchange (NYSE) and on the Mexican stock exchange (BMV), after completing its acquisition by Elon Musk.

The NYSE informed the United States Securities and Exchange Commission (SEC, for its acronym in English) that Twitter shares will cease to be listed on said stock exchange as of November 8, after in 2013 it became a public company.

The New York Stock Exchange notifies the SEC of its intent to delist the entire class of (Twitter) securities from trading and registration at the opening of trading on November 8, 2022,” the notice states.

The exchange also notified the United States Securities and Exchange Commission that as a result of Twitter’s merger with X Holdings II, Inc., a wholly owned subsidiary of X Holdings I, Inc. Muskthe listing of the shares of the social network were also suspended before the opening of the market on October 28, 2022.

For this reason, this Friday there are no movements in the Twitter price. The last recorded, on Thursday, October 27, was 53.92 dollars per share.

For its part, the BMV also reported the suspension of Twitter’s trading in the International Quotation System (SIC).

“The BMV learned that the titles representing the capital of Twitter derived from its merger with affiliated companies of Elon Musk were suspended on the NYSE. By virtue of the foregoing, on October 28, 2022, the listing in the International Quotation System is suspended,” reads the notice.

Likewise, the BMV will cancel the listing of said securities in the SIC, once the corresponding authorization is obtained from the National Baking and Stock Commission (CNBV).

Twitter submitted its request to the SEC to proceed with the delisting of its shares due to its merger with Elon Musk’s companies. Each share of Twitter, Inc. will be paid at 54.20 in cash.

On Thursday night, the businessman consummated the acquisition of the red social for 44,000 million dollars, reported the AFP agency. In taking control, he also fired at least four top Twitter executives, including the CEO and chief financial officer.