The talks between Musk and his backers to get more funding have been put on hold because of the chaotic situation surrounding the takeover.
According to sources, Musk is in talks with a group of private equity firms to get more money for the deal. He had personally contributed a lot of money.
The conversations have been put on hold because of confusion.
In a letter to the SEC, Musk said he had the right to walk away from the deal. The company was obstructing his information rights.
The platform hasn't been transparent about how it calculates the number of bot accounts on its platform, according to Musk.
According to analysts, Musk's concern about bot accounts is a reason for him to go back to the negotiation table and try to get a better price for the service.
The analyst thought that Musk was trying to find a reason to abandon the deal completely.
Musk and Apollo Global Management Inc, which leads the private equity group, did not immediately respond to Insider's request for comment.
According to sources, banks' plans to sell $13 billion in debt have been put on hold because of the chaos surrounding the deal.
The banks are still going to syndicate the debt, but are waiting for the situation to become clearer, according to sources.
In May, Musk arranged a round of $7 billion in additional funding and has rearranged the financing behind the deal to limit his personal exposure.
All Rights Reserved © 2024
