Musk seeks to put in less money in new Twitter deal financing

05/02 23:43

According to Reuters, Elon Musk is in talks with large investment firms and high net-worth individuals about taking on more financing for his US$44 billion acquisition of Twitter and tying up less of his wealth in the deal, people familiar with the matter said. The new financing, which could come in the form of preferred or common equity, could reduce the US$21 billion cash contribution that Musk has committed to the deal as well as a margin loan he secured against his Tesla shares, the sources said. Musk has also been in talks with some of Twitter's major shareholders about the possibility of them rolling their stake into the deal rather than cashing out, one of the sources said. Former Twitter Chief Executive and current board member Jack Dorsey is examining whether he will roll his take, one source added.
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