Twitter, Musk talks stuck on debt financing contingency, Bloomberg says

Talks between Tesla (TSLA) CEO Elon Musk and Twitter (TWTR) to reach a resolution are stuck in part over Musk’s statement that his offer is now contingent on receiving $13B in debt financing, Jef Feeley, Michelle Davis and Paula Seligson of Bloomberg report, citing people familiar with the matter. Musk’s lawyers said in an October 3 SEC letter that he was willing to do the deal on its original terms “pending receipt of the proceeds of the debt financing.” The original deal didn’t contain such a contingency, reports Bloomberg. Both sides are expected to file a motion with the court when they have settled all their questions, which would stop the lawsuit that Twitter filed in the aftermath of Musk’s rejection, notes Bloomberg. Musk is also seeking to reserve his rights to file a fraud suit over his claims the platform’s executives misled him and other investors about the number of spam and robot accounts, a source told the news agency.

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