- Early voting suggests that Twitter ( NYSE: TWTR ) is set to gain approval of its $44B deal to be acquired and taken private by billionaire Elon Musk, the WSJ reports - not too surprising, as Twitter's $41.41 share price still sits at a near-24% discount to Musk's $54.20 per share offer.
- Twitter's formal vote arrives Tuesday morning. But the early indications are that the deal will pass by a wide margin, according to the report.
- Meanwhile, Musk himself hasn't voted his 9.6% stake - and after trying multiple avenues to get out of the deal, it would be awkward for him to vote his stake against his own takeover (but moreso if he voted for the deal). He's likely to vote present, which cedes power on that stake to the board (which also supports the transaction).
- Twitter stock ( TWTR ) is up 0.5% after hours.
- Earlier, Wedbush went over potential scenarios for Twitter v. Musk and concluded there's a high possibility of a negotiated settlement before the scheduled October trial .
For further details see:
Early votes show Twitter cruising toward OK of Musk buyout - WSJ