Elon Musk updates Twitter financing plan; shares jump
Tesla CEO Elon Musk has made an adjustment to his financing plan for his proposed $44 billion purchase of Twitter.
The revision would cut $6.25 billion from the lending package Musk had previously lined up for the Twitter buyout, according to a regulatory statement.
That means Musk will need to raise that sum in stock commitments instead of debt. That brings the equity portion of the deal to $33.5 billion, up from the $27.25 billion disclosed three weeks ago.
The move raised investor hopes that Musk still intends to make the deal...