Traders fretted that Mr Musk may not have enough money sitting around to fund his US$21 billion cash contribution and could decide against selling some of his Tesla shares to come up with it.
In addition, Mr Musk would have to pay only a US$1 billion breakup fee — a sliver of his fortune estimated by Forbes to be US$240 billion — to walk away from the acquisition. Tesla shares fell more than 12 per cent on Tuesday, wiping out US$126 billion in value, amid concerns Mr Musk will have to sell shares in the electric car maker to pay for the US$21 billion equity check in the Twitter deal.
Source: News Formal (newsformal.com)
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