Tag: Elon Musk Backs out Twitter Deal

Elon Musk Needs $13B in Debt Financing to Acquire Twitter
Business, United States

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...
$44 Billion Twitter Acquisition Soup comes to Boil as Musk Reneges
Business, United States

$44 Billion Twitter Acquisition Soup comes to Boil as Musk Reneges

According to the latest developments in the Twitter (NYSE: TWTR) acquisition by Elon Musk, legal experts cite a potential legal case against Elon Musk from Twitter in the offing. Elon Musk, who initiated the acquisition earlier this year, seems to be terminating the $44 Billion Twitter acquisition deal. The predicted legal battle also comes with a twist of renegotiation or settlement, should Elon Musk be willing. As per Delaware courts, where the legal battle is to be litigated, have it clear in favor of acquirers wanting to abandon their deals. This is where renegotiation is anticipated over a legal battle against Elon Musk that will drag over months. This renegotiation is a better opportunity, albeit at a lower price rather than all the harrowing court experiences lasting over mon...
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