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AP National Business

Elon Musk revises Twitter financing plan; shares jump

KVIA
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Published 10:52 AM

By BARBARA ORTUTAY and MICHAEL LIEDTKE
AP Technology Writers

SAN FRANCISCO (AP) — Elon Musk on Wednesday revised the financing plan for his proposed $44 billion purchase of Twitter, raising investor hopes that the unpredictable billionaire still intends to pull off a deal roiled by market turbulence and Musk’s own unpredictable fixation with the number of fake accounts on Twitter. The changes outlined in a regulatory filing would shave $6.25 billion from the lending package that had been previously lined up for the Twitter buyout. That means Musk will need to secure a total of $33.5 billion in equity commitments, up from $27.25 billion. It’s still unclear, though, if the deal will be completed.

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