Elon Musk Ditches Tesla-Backed Loans As Part of His Twitter Takeover

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Elon Musk will no longer use loans backed by Tesla stock as part of his Twitter takeover, instead adding $6.25 billion of personal funding toward the $44 billion deal, according to a new filing with the SEC.

, instead adding $6.25 billion of personal funding toward the $44 billion deal, according to a new filing with the SEC submitted on Tuesday.

Tesla shares have plummeted close to 40 percent over the past six months amid a broader tech downturn, including a 25 percent fall-off over the last month alone. Musk maintained that he was still committed to the takeover, though he continued to harp on the issue—with scant evidence—suggesting that he was either trying to negotiate a lower price or perhaps back out entirely.the company's approach to fighting spam and estimating illegitimate accounts. Musk responded to the tweets with a poop emoji.that they were not open to renegotiating the price of their agreement, a source who heard the comments confirmed to The Daily Beast.

Source: Loan News Today (loannewstoday.net)

 

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In other words, the deal is off. Thank goodness the nightmare is over.

More horse trading.

Tee- hee

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