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Showing posts with the label debt financing

'I don't lose sleep': Bank of America CEO isn't worried about financing the Twitter deal

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In this article TWTR Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 1:22 01:22 Bank of America CEO says he doesn't lose sleep over Musk's Twitter deal Squawk Box Europe The CEO of Bank of America , one of the financiers of Elon Musk's Twitter takeover, doesn&#x27 ;t appear worried about the deal. CNBC reported on Thursday that Musk is now in charge of Twitter. Binance, one of the investors in the deal, told CNBC the acquisition has closed. After Musk first announced plans to buy Twitter in April, he secured equity financing from an array of investors, including technology firms, as well as debt financing from a number of investment banks. One of those was Bank of America. But with the rout in technology stocks this year and investors cautious on risky assets, that debt could be hard to sell on to investors, meaning the banks may have to hold onto the debt. The Wall Street Journal reported Wednesday that the investment banks may hold onto the debt unti...

Judge agrees to postpone the coming trial between Twitter and Elon Musk so they can work out a deal

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A Delaware judge has agreed to stay the coming trial between Elon Musk and Twitter so the two sides can work out a deal for Musk to acquire the social media company. In a two-page ruling issued Thursday evening, Delaware Chancery Court Judge Kathaleen McCormick said she would give the two parties until Oct. 28 to come to an agreement over the disputed transaction. The trial had originally been set to start Oct. 17. Should the two sides fail to finalize a deal, the trial would start in November, she said. The motion represents a victory for Musk, who in recent days had signaled he was seeking to avoid the trial by re-offering $54.20 a share for the company, or about $44 billion. Twitter opposed the offer as it sought to force Musk to close the deal on the exact terms he agreed to in April. A Twitter representative did not immediately respond to a request for comment. Musk could not immediately be reached for comment. What Twitter could look like under Elon Musk's ownership Oct. 5,...