Investors fret over potential Musk U-turn in $44B Twitter deal

TRT World says investors speculating over whether Elon Musk will complete his $44 billion acquisition of Twitter Inc have sent company shares to their lowest level.

Investors fret over potential Musk U-turn in $44B Twitter deal

TRT World says Investors speculating over whether Elon Musk will complete his $44 billion acquisition of Twitter Inc have sent the social media company’s shares to their lowest level since the deal was announced two days ago.

Traders fretted that Musk may not have enough money sitting around to fund his $21 billion cash contribution and could decide against selling some of his Tesla Inc shares to come up with it.

He has backtracked before. 

Earlier this month, he decided at the last minute not to take up a seat on Twitter’s board. In 2018, Musk tweeted that there was “funding secured” for a $72 billion deal to take Tesla private, but did not move ahead with an offer.

https://www.trtworld.com/business/investors-fret-over-potential-musk-u-turn-in-44b-twitter-deal-56713

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