Musk’s $44-bln Twitter deal at risk of being repriced lower: Hindenburg

✔︎ Fact Checked by TDPel News Desk

By Lola Smith

Published: May 10, 2022 | 6:27 AM GMT

Twitter declined to comment. Tesla Inc was not immediately available for a comment from its Chief Executive Musk.

“We are supportive of Musk’s efforts to take Twitter private and see a significant chance the deal will close at a lower price,” Hindenburg said.

The short-seller said the deal has seen a number of developments, from financing to board approval, which could have weakened the company’s position.

Hindenburg said Musk could walk away paying the $1 billion breakup fee and has leverage to renegotiate if he chooses to.

Last month, Twitter secured a $44-billion cash deal to sell itself to Musk and received over $7 billion in funding from high-profile investors, including Oracle’s co-founder Larry Ellison and Sequoia Capital.

We are taking you to the next article automatically...You can cancel it below or click Load Now to read it now!

About Lola Smith

Lola Smith is a highly experienced writer and journalist with over 25 years of experience in the field. Her special interest lies in journalistic writeups, where she can utilize her skills and knowledge to bring important stories to the public eye. Lola’s dedication to her craft is unparalleled, and she writes with passion and precision, ensuring that her articles are informative, engaging, and thought-provoking. She lives in New York, USA.