I was wondering what is the reasonable time frame when ordinary investors receive the money from a sale of a company that is acquired to become private. I see Twitter was acquired on Thursday (Oct 27, 2022), but no funds have been received.

I see a news item that says

Shareholders will receive $54.20 per share of stock when all the paperwork is filed

But it is not clear how many days to be exact ? Suppose an investor needs money for another trade or needs to withdraw funds, how can one plan for that?

  • I don't know specifically about twitter, but I held shares in a company that was taken private several years ago and it took about 3 months till all the funds were distributed.
    – littleadv
    Oct 31 at 5:33
  • @littleadv 3 months sounds too much twitter was quick
    – puzzled
    Nov 1 at 21:52
  • It may have been 3 months from the announcement
    – littleadv
    Nov 1 at 22:54
  • @littleadv I was looking for the duration for which either the cash or stock is unavailable. So in Case of Twitter, I could have sold it on open Market till Thursday( Oct 27, 2022). Friday and Monday I neither have access to Fund or stocks.
    – puzzled
    Nov 2 at 0:46

2 Answers 2


I believe this works exactly the same as selling your stock in a normal market transaction.

The sale of Twitter was closed on October 27th (Thursday), so you've sold your stock on that day. The funds will follow T+2 settlement and arrive 2 business days later, in this case Monday, October 31st.

  • yes and no. ** yes ** as it happened in T+2 , but ** NO ** because in regular sale a sale is entered on the day (i.e T ) actual sale happened and fund is received on T+2 . in case of this , there was no sale shown on Oct 27th.
    – puzzled
    Nov 5 at 23:27

This was my first encounter with a company whose stock I was holding. For Twitter, I received Fund on Oct 31/2022. It was not visible on 10/31/2022, but was visible on November 01's morning.

  • This is not an answer to the question here. It's at best a comment verifying that a specific sale followed the rule applicable.
    – Nij
    Nov 5 at 3:49
  • I think it's borderline an answer, it does explain how it worked for the example given in the question. Nov 5 at 17:12

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