Musk's Twitter takeover hits snag over debt financing

Discussions between the world’s richest man and the social media platform are aimed at resolving remaining issues before closing the deal. (Image: Getty)

Bloomberg

Sat, 08 Oct 2022

By Jef Feeley, Michelle F. Davis and Paula SeligsonTalks between Elon Musk and Twitter to reach a resolution of the US$44 billion ($77b) takeover are stuck – in part over Musk’s statement that his offer is now contingent on receiving US$13 billion in debt financing, according to people familiar with the matter.The billionaire’s lawyers said, in an Oct 3 US Securities and Exchange Commission (SEC) letter, that Musk was willing to do the $54.20-per-share deal on its original terms “pending receipt of the proceeds of the de...

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