(Bloomberg) — After losing nearly $300 billion in market value in two months, a growing chorus of Tesla Inc. analysts say the share-price decline has gone far enough. Morgan Stanley analyst Adam Jonas said on Wednesday that Tesla is approaching his “bear case” price target of $150, presenting an opportunity for investors to buy at […]
Read More(Bloomberg) — Twitter Inc. owner Elon Musk tweeted out an upbeat message saying the company beat its all-time high in usage late Thursday, on a day when many employees decided to leave the company. It was the second time in a week that the social network set a record, according to Musk, who said it […]
Read More(Bloomberg) — Tesla Inc. Chief Executive Officer Elon Musk sold at least $3.95 billion of the electric-vehicle maker’s shares just days after closing his buyout of Twitter Inc. Musk unloaded 19.5 million shares, according to regulatory filings on Tuesday in New York, his first disposals since August. The filings didn’t indicate that the transactions were […]
Read More(Bloomberg) — Tesla Inc. erased all of its gains from the past 17 months as investors continue to sell off the stock in the wake of Chief Executive Officer Elon Musk’s purchase of Twitter Inc. The electric-vehicle maker’s shares closed down 5% to $197.08 in New York Monday, at the lowest level since June 2021. […]
Read More(Bloomberg) — Billions of dollars in arbitrage capital is looking for a new home after Elon Musk finally closed his $44 billion deal to buy Twitter Inc. Merger arbitrage traders, who make money betting on the outcome of dealmaking among public companies, are now setting their sights on transactions involving Activision Blizzard Inc., VMware Inc. […]
Read More(Bloomberg) — Twitter Inc. has hired merger law heavyweight Wachtell, Lipton, Rosen & Katz LLP as it races to sue Elon Musk for moving to dump his $44 billion takeover of the company, according to people familiar with the matter. The social media company aims to file suit early this week, according to the people, […]
Read More(Bloomberg) — Elon Musk said he’s terminating his $44 billion agreement to acquire Twitter Inc. and take it private, triggering a legal fight with the company. Twitter has made “misleading representations” over the number of spam bots on the social network, and hasn’t “complied with its contractual obligations” to provide information about how to assess […]
Read More(Bloomberg) — Twitter Inc. executives told employees on Thursday that the $44 billion deal to sell the company to billionaire Elon Musk is moving forward as planned, and that they won’t renegotiate the agreed-upon price of $54.20 per share. Vijaya Gadde, Twitter’s top lawyer and head of policy, also told workers at an all-hands meeting […]
Read More(Bloomberg) — Elon Musk may be directing his buyer’s remorse at Twitter Inc.’s bot problem. But underpinning the deal is a $13 billion debt bill that’s looking like a bigger burden by the day. The package, drummed up in a rush and signed by banks before the end of the billionaire’s beloved April 20 weed […]
Read More(Bloomberg) — The merger deal bringing Donald Trump’s media venture public carries a range of risks for its investors, including permission for the former president to resume tweeting about politics on rival social media platforms he has denounced like Twitter Inc. Trump, who will be chairman of the combined company that will bear his name, […]
Read More(Bloomberg) — Elon Musk caused chaos over his takeover bid for Twitter Inc, first claiming his bid was was “temporarily on hold,” then maintained he is “still committed” to the deal, sending the social media giant into a tailspin. The billionaire initially sent an early tweet saying the $44 billion deal is pending until he […]
Read More(Bloomberg) — Elon Musk’s bid to buy Twitter Inc. is facing more scrutiny in Washington following a report that the US Securities and Exchange Commission is probing whether he broke rules last month when disclosing a large stake in the social media platform. The Wall Street Journal reported on Wednesday that the SEC is investigating […]
Read More(Bloomberg) — Elon Musk’s sale of more than $8.5 billion of Tesla Inc. shares has made the math behind his $44 billion deal to buy Twitter Inc. a bit more tricky. To acquire the social-media company, Musk has lined up $13 billion in bank financing, $12.5 billion in margin loans backed by Tesla shares and […]
Read More(Bloomberg) — Elon Musk sold about $4 billion worth of Tesla Inc. shares after announcing a blockbuster $44 billion deal to buy Twitter Inc. Tesla’s chief executive officer offloaded about 4.4 million shares on April 26 and April 27, filings showed late Thursday. Wall Street analysts and investors in the electric carmaker suspected that Musk […]
Read More(Bloomberg) — Twitter Inc. will be required to pay a termination fee of $1 billion under certain circumstances if it ends an agreement to be acquired by Elon Musk for $44 billion, according to a filing on Tuesday. Musk will also be subjected to the same fee if he ends the deal. The fee would […]
Read More