Musk's Twitter takeover hits snag over debt financing

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
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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