Elon Musk bought himself some time after a judge accepted the billionaire’s request to halt a Twitter lawsuit to allow him to close his proposed $44 billion buyout of the social media company by October 28.
bought himself some time after a judge accepted the billionaire’s request to halt a Twitter lawsuit to allow him to close his proposed $44 billion buyout of the social media company by October 28.
Now comes the big question: how will he pay for it?
said earlier this week he would buy Twitter for $54.20 per share, the price that was agreed in April, but included a condition that the closing of the deal be contingent on debt financing for the transaction coming through.
WHAT IS HIS FINANCING PLAN?
Musk has pledged to provide $46.5 billion in equity and debt financing for the acquisition, which covers the $44 billion price tag and closing costs. Banks, including
and Bank of America Corp, committed to provide $13 billion of debt financing to support the deal.
Twitter on Thursday cited one of the banks as saying that Musk had not communicated to them that he intends to close the transaction.
