- Many see the takeover as potentially influencing the results of future elections.
- The Twitter stock soared almost 20%, reaching a new high of $52.06.
Concerns were raised among investors when Tesla CEO Elon Musk gave his approval. To go through with the $44 billion takeover of Twitter at $54.20 per share. Neither the May third-party equity financing nor the May debt financing included participation from Apollo Global Management or Sixth Street Partners.
Investors were wary of Elon Musk’s $44 billion proposal to acquire Twitter. Because of the turmoil surrounding the withdrawal of funding from Apollo Global Management and Sixth Street Partners. Elon Musk acknowledges, however, that neither company participated in the May third-party equity financing or debt financing.
Highly Anticipated Takeover
On October 6, Gary Black, managing partner of investment firm The Future Fund LLC, tweeted that the lack of interest in funding the Twitter transaction from Apollo Global Management and Sixth Street Partners was unimportant. He claims that neither company participated in the $7.1 billion in external equity fundraising that closed in May. Moreover, Elon Musk’s debt financing did not include Apollo Global or Sixth Street.
Elon Musk, CEO of Tesla, tweeted back “Correct” to comments suggesting Apollo Global and Sixth Street were irrelevant to the purchase of Twitter. Furthermore, Elon Musk’s approval of the Twitter takeover transaction is seen by many as potentially influencing the results of future elections.
Elon Musk and Twitter have agreed to postpone Thursday’s deposition while they work to resolve their lawsuit and finalize Musk’s $44 billion purchase of Twitter. Dogecoin (DOGE) soared almost 10% to a high of $0.066 after Musk agreed to proceed with Twitter purchase at a previously established $54.20 per share. The current price of a single DOGE is $0.0565 at the time of this writing. Furthermore, the Twitter stock soared almost 20%, reaching a new high of $52.06.
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