Tag: Elon Musk-Twitter deal

Einhorn Says Twitter Is The Biggest Long Bet He’s Made This Year
12Oct By adminNo Comments
Technology

Einhorn Says Twitter Is The Biggest Long Bet He’s Made This Year

[ad_1] David Einhorn said Elon Musk will go through with Twitter deal. David Einhorn, the founder of Greenlight Capital who was among hedge fund managers wagering on Twitter Inc., said he believes that Elon Musk will go through with his deal to buy the social media company this year. “It's pretty much the only sizable long investment we've made the entire year because we've been very cautious with the bear market,” he said Tuesday in a Bloomberg Television interview on Tuesday. “Investing in something like Twitter, which I think will resolve this year, is good because I should get the cash out to redeploy into the next thing.” Einhorn said earlier this year that the laws tied to mergers and acquisitions are clear, and that the Delaware Chancery Court would uphold a deal. Though M...
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Market Sees 60% Chance Elon Musk’s Twitter Deal Makes Oct. 28 Deadline, Cowen Says
11Oct By adminNo Comments
Technology

Market Sees 60% Chance Elon Musk’s Twitter Deal Makes Oct. 28 Deadline, Cowen Says

[ad_1] Market is pricing in just a bit more than the odds of a coin toss that Elon Musk’s Twitter deal will close by Oct. 28. The market is pricing in just a bit more than the odds of a coin toss that Elon Musk's deal with Twitter Inc. will close by Oct. 28, a court-issued deadline. That's the calculation from Aaron Glick, a merger arbitrage strategist at Cowen Inc.“Based on my informal survey last week, arbitrage traders tend to think Twitter's price holds up well if we are going back to court,” Glick said. “The average guess of where Twitter trades if the deal is not consummated came out to around $45.” With Twitter shares trading Monday at around $50.50, that near-term downside assumption puts the deal's October closing probability at roughly 60%, he said, which is up from less tha...
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‘Plot Twist!’: Elon Musk’s Deal for Twitter Lurches Toward a Close
9Oct By adminNo Comments
Technology

‘Plot Twist!’: Elon Musk’s Deal for Twitter Lurches Toward a Close

[ad_1] The billionaire and his bankers have until Oct. 28 to complete transaction he fought to abandon Elon Musk is running out of ways to evade his original $44 billion contract to buy Twitter Inc. The world's richest man, who was in a rush to acquire the social network in April and then abruptly soured on the deal, spent months trying to exit the obligation entirely. In recent weeks, both sides discussed a price that was about $4 below the $54.20 per-share accord, but couldn't agree on additional terms, according to people familiar with the matter. On Oct. 3, Musk applied public pressure by formally re-offering to buy the company at the original price, aiming to avoid an Oct. 17 fight in Delaware Chancery Court. Twitter's stock shot up, with investors sensing the drama was near...
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Twitter LBO Offers Latest Headache for Depleted Credit Markets
9Oct By adminNo Comments
Technology

Twitter LBO Offers Latest Headache for Depleted Credit Markets

[ad_1] Elon Musk’s revived deal for Twitter Inc. is only adding to the strain. It's already bleak for Wall Street banks that struggled to sell risky debt to fund leveraged buyouts. Elon Musk's revived deal for Twitter Inc. is only adding to the strain.Banks have already been saddled with losses of about $600 million for the buyout of Citrix Systems Inc. and are still stuck with $6.5 billion of debt they couldn't sell. They also had to shelve a $3.9 billion deal for Brightspeed after investors balked at the offer -- and are expected to soon fund the buyout of Nielsen Holdings, and possibly even Tenneco Inc. With that in mind, and with little else in the way of imminent deals, Twitter is likely to remain center stage for credit markets in the coming week. Bond Deals Get Pulled During Cr...
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How will Elon Musk pay for Twitter? Explained in 4 points
8Oct By adminNo Comments
Technology

How will Elon Musk pay for Twitter? Explained in 4 points

[ad_1] Musk has pledged to provide $46.5 bn in equity and debt financing, which covers the $44 bn price tag. Elon Musk bought himself some time on Thursday, 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 Oct. 28. Now comes the big question: how will he pay for it? Musk 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. Tesla shares fell more than 6% on Friday, heading for their worst weekly drop since March 2020, as investors worry Musk may dump more shares after Tesla announces its quarterly earnings on...
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Twitter Trial Against Elon Musk Is Halted to Allow Deal to Close
7Oct By adminNo Comments
Technology

Twitter Trial Against Elon Musk Is Halted to Allow Deal to Close

[ad_1] A judge halted a court case against Elon Musk over his $44 bn purchase of Twitter. A Delaware judge halted a court case against Elon Musk over his $44 billion purchase of Twitter Inc., giving the parties more time to complete the deal.Delaware Chancery Judge Kathaleen St. J. McCormick said if the transaction isn't done by 5 p.m. on Oct. 28, she will set new trial dates in November, according to an order issued Thursday. The ruling hands a partial victory to Musk, who earlier in the day had asked the judge to pause Twitter's lawsuit against him ahead of an Oct. 17 trial date. But it also gives Musk a deadline by which he needs to make good on his April agreement to pay $54.20 a share -- an obligation he previously tried to abandon. Shares in San Francisco-based Twitter rose as m...
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Elon Musk’s Twitter Takeover Slightly Less of a Done Deal, Shares Suggest
6Oct By adminNo Comments
Technology

Elon Musk’s Twitter Takeover Slightly Less of a Done Deal, Shares Suggest

[ad_1] Stock markets are still not entirely sold on Elon Musk’s $44 billion takeover of Twitter Inc. Stock markets are still not entirely sold on Elon Musk's $44 billion takeover of Twitter Inc. after the billionaire revived the deal at its original price earlier this week. Shares in the social media firm slipped 1.2% to $50.67 in premarket trading, taking them further below Musk's offer of $54.20 a share. The stock is set to slip for a second day after soaring on Tuesday when the Tesla Inc. chief made a surprising U-turn from his effort to back out of the deal, potentially avoiding a contentious courtroom fight. While most analysts see the deal closing fairly quickly, concerns persist surrounding the funding of the transaction, keeping Twitter's stock about 6.5% below the offer ...
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Elon Musk decides to buy Twitter, again!
5Oct By adminNo Comments
Technology

Elon Musk decides to buy Twitter, again!

[ad_1] Elon Musk has decided to buy Twitter at the original listed price decided back in April 2022. Elon Musk has decided once again to buy Twitter! The controversial deal sparring most of 2022 finally ends in the Tesla and SpaceX CEO deciding to buyout Twitter for the same price as previously decided. Musk says he would acquire Twitter at $54.20 per share, according to regulatory filings that were made public on Tuesday. Musk had previously backed out of the deal after his reservations on the matter of Twitter bots.Soon after the news broke out, Elon Musk took to Twitter and said, “Buying Twitter is an accelerant to creating X, the everything app.” This is a big revelation for the future of the microblogging platform, in which Musk suggested a couple of changes. Musk had bigger issu...
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10 Things Elon Musk’s Texts Reveal About the Twitter Deal
1Oct By adminNo Comments
Technology

10 Things Elon Musk’s Texts Reveal About the Twitter Deal

[ad_1] Messages between Elon Musk and Twitter execs, close friends sheds light on how deal and ended up in court. A new trove of text messages between Elon Musk and Twitter Inc. executives, close friends, potential investors and Silicon Valley bros sheds light on how a $44 billion deal by the world's richest person to buy the social media company came about -- and ended up in court.The texts show who wanted to be part of the buyout and reveal the inner circle's musings on who should run the company if Musk did come to own it. They were disclosed as part of Twitter's lawsuit to make Musk follow through on his $54.20-per-share offer, which is slated to go to trial in Delaware Chancery Court next month. Among the many texts, Mus...
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