New problem in Musk’s acquisition of Twitter? 2 investment funds will not participate in the acquisition

by

Musk has said he will finance the deal with his own resources, but also with money from investors he works with, as well as capital from bank financing.

A new problem probably arose in the acquisition of Twitter by Elon Musk which has taken on dimensions… serial.

Investment companies Apollo Global Management Inc and Sixth Street which were looking for ways to finance Elon Musk’s takeover of social media platform Twitter Inc earlier this year are no longer in talks with the billionaire businessman, according to two sources briefed on the matter.

Musk and Twitter had been embroiled in a legal battle after the entrepreneur moved to withdraw his takeover proposal.

The two sides are currently in talks to end the litigation, paving the way for the $44 billion (€44.36 billion) deal to close.

Earlier today it became known that Musk and Twitter agreed to postpone today’s testimony, without specifying a new time for it to take place, according to a source with knowledge of the case.

Twitter and Musk did not immediately respond to a request for comment, while Apollo and Sixth Street declined to comment.

Musk has said he will finance the deal with his own resources, but also with money from investors he works with, as well as capital from bank financing.

Earlier this year, Apollo was looking at ways to finance the deal, sources told Reuters.

Sixth Street participated in those talks with investors considering putting up about $1 billion (€1.01 billion) toward the takeover deal.

The conversations these have been terminated, according to sources who learned about the developments yesterday.

RES-EMP

You May Also Like

Recommended for you