October 3, 2022

Wire Service Canada

Complete Canadian News World

Operation $44 billion – Corriere.it

L ‘Twitter and Elon Musk agree to sell the social network to Tesla CEO It was achieved and is expected to be announced after the Wall Street close. The The Wall Street JournalCiting sources close to the negotiations. Both sides worked all night A $44 billion deal. Barring any last-minute hitches, the paper explains, the deal should be announced after the markets close, if not before: richest man in the worldthe owner of Tesla, will also be the owner of Twitter.

It is unclear whether the increase in the value of the transactionlittle bit More than 43 billion dollars Which the Tesla CEO proposed 11 days ago, is tied to a bid improvement from $54.20 per share or a more accurate count of the securities covered by the agreement. On Wall Street, Twitter stock rose 5.38% to $51.56. The turning point was still in the air: Meanwhile, in recent days, Musk showed that he was serious by submitting to the SEC (American Stock Exchange) a detailed plan to finance the acquisition on the basis of two loans from Morgan Stanley and other banks totaling $25.5 billion, while another 21 billion would do. It comes from selling Tesla shares. Second, the Republican Party moved to support Musk’s bid with a letter from 18 members of the House Justice Committee led by Jim Jordan, an ardent Trump, ordering the board to retain all documents and correspondence related to discussions about the buyout bid. .


White House spokeswoman Jen Psaki declined to comment Elon Musk’s takeover announcement on Twitter: He did not respond to any specific deal when asked about it. But he noted that President Joe Biden is concerned about the excessive power of social media. It doesn’t matter who owns or runs Twitter – the president has always been concerned about the power of the big social media platforms.

READ  Italian Stock Exchange, commenting on today's session (March 2, 2022)