Activist investor Carl Icahn amassed a Twitter stake worth more than $500 million in the past few months and made a sizable profit on Tuesday after Elon Musk proposed to go ahead with his takeover of the social media platform, the Wall Street Journal reported.
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chief Musk wouldn't go through a trial that he looked likely to lose, the report said. He also believed that the stock was worth close to the mid-$30s in the long term. Other investors, including D.E. Shaw Group and Daniel Loeb's Third Point LLC, also placed bets on Twitter shares in recent months and could make sizable gains as well, according to the report.
Third Point and Twitter declined to comment. Icahn Enterprises and D.E. Shaw Group did not respond to Reuters' requests for comment.Reporting by Akriti Sharma in Bengaluru; Editing by Subhranshu Sahu
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