Twitter won the fight and Elon will be forced to buy twitter

Elon Musk offered an unsolicited takeover bid of Twitter; Twitter board accepted the offer and then he decided to run off from the deal.  Today, news broke that Elon Musk’s hand is tired, he has to buy Twitter because Twitter will win the case in court.

Earlier today, October 4, 2022, Twitter stock trading was halted as we await the official news that Elon Musk will own Twitter.

When a stock is halted due to a pending news, it means something big will happen and it may affect the stock price. Right now, Twitter stock is selling for $47.93 per share, it was up by 12.67 percent today due the rumor that Tesla founder Elon Musk will take over Twitter’s ownership.

Must proposed to close twitter deal at $54.20 and the company is expected to go private soon the deal is completed.

How is Elon paying for Twitter purchase?

• $6.5 billion term LIBOR + 475bp
• $500m Senior secured revolver
• $3B secured Bridge LIBOR + 675bp
• $3B unsecured bridge Libor + 1000bp

According to reports, Elon also sold some Tesla stocks in other to fund this Twitter takeover bid.