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New obstacles in concluding a deal for Musk's purchase of Twitter


June, 08 2022
watermark Economic news

The uncertainty surrounding the deal to buy Twitter by Elon Musk may lead to the disruption of plans to attract an additional $ 2-3 billion from third-party investors. 


At the moment, Musk's attempts to organize new financing of the transaction have been suspended. In total, the entrepreneur planned to invest $ 33.5 billion in the transaction, and to attract the rest (of the total $ 44 billion) from outside investors. 


It is clarified that Musk intended to receive additional financing from a group of private investment companies led by Apollo Global Management Inc in exchange for preferred shares of Twitter. 


However, back on April 15, Twitter's board of directors adopted a shareholder rights protection plan, which was supposed to prevent an undesirable takeover of the company by Musk. On April 25, the parties still managed to agree on a deal. According to the agreements, Musk will buy Twitter for $ 44 billion ($54.2 per share).


But in May, the conclusion of the deal was again in question: Elon Musk stated his desire to make sure that spam and fake Twitter accounts account for less than 5%. And the day before yesterday, on June 6, Musk accused Twitter that the company refuses to provide this information and thus violates the agreement on the deal.


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