Filing says Elon Musk to borrow less in Twitter bid

Elon Musk in a filing with the US Securities and Exchange Commission says he will borrow US$13 billion for his Twitter buy, instead of nearly double the amount. – EPA pic, May 26, 2022.

ELON Musk notified US regulators on yesterday that he will rely less on loans in his bid to buy Twitter, as he and partners put US$33.5 billion (RM149 billion) into the deal.

Twitter shares climbed more than 5% on the news, as the market evidently took it as a sign the acquisition is moving forward despite Musk declaring it on “hold” due to his concerns about the number of accounts that might be software “bots” instead of real people.

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