- Twitter said on April 25 that it had agreed to sell itself to an entity wholly owned by billionaire Elon Musk for $54.20 a share in a transaction valued at $44 billion. The price represents a 38% premium to where Twitter shares closed on April 1, the last trading day before Musk disclosed that he had acquired more than 9% of the social media company.
- Musk, the chief executive of electric-car maker Tesla, has committed to provide equity of approximately $21 billion, with another $12.5 billion coming from a loan secured against some of his Tesla shares. Banks led by Morgan Stanley also have agreed to provide $13 billion in loans to the company Musk has set up to consummate the transaction.Editing by Jeffrey Goldfarb and Katrina HamlinOpinions expressed are those of the author.
AntonyMCurrie No one gives a fuck about your opinion Tony.