Elon Musk Needs $13B in Debt Financing to Acquire Twitter
Yes, the world's richest man, Elon Musk, needs $13B in debt financing to acquire Twitter (NYSE: TWTR). In the $44B takeover of Twitter Inc that got dismissed, leading to Twitter taking Musk to court, the case has opened as an expression of Musk's renewed interest in acquiring Twitter. Musk's offer is now contingent on receiving $13 billion in debt financing.
Musk's attorneys told the SEC in a letter dated October 3, 2022, that their client was still open to the initial $54.20 per share arrangement "pending receipt of the cash of the debt financing." This was not a provision of the original agreement.
Musk is now in talks with Twitter to iron out the last details of the agreement he proposed in April but later backed out of. When all questions are answered, the two sides will file...