The soap opera of the takeover of the social network Twitter by Elon Musk, the truculent billionaire boss of Tesla and Space X has just experienced a new episode.
Elon Musk has announced that he has received new direct commitments which have enabled him to reduce by an additional 6.25 billion the amount of loans taken out for the acquisition of the blue bird for 44 billion dollars.
The CEO of Tesla who had initially subscribed for 25.5 billion loans lowered these loans to 13 billion dollars, according to a document registered by the American market authority (SEC), which considerably lightens his financial burden.
Something to reassure investors.
Indeed, the $ 12.5 billion in loans that will not ultimately have been necessary had worried some analysts, because they were credits backed by securities on the car manufacturer Tesla.
This operation was seen with a bad eye by the market because it created a link with the car manufacturer.
And when it comes to finance, we don't like mixing genres… On Tuesday, Twitter's share price fell to $35.40, or 35% less than the price officially offered by the fiery entrepreneur in mid-April.
This time, with these new direct commitments of which it is not specified whether this comes from the billionaire's personal assets or if other investors have sat in the round, investors see it as Elon Musk's desire to make complete the case.
Especially since the boss of Tesla has indicated that he is in discussion with several people, including co-founder and former general manager Jack Dorsey, with a view to rallying them to the project and obtaining their contribution, either in cash or in Twitter shares, which could further reduce the amount borrowed.
+5% on Wall Street
For investors, we seem to be moving away from the episodes where Elon Musk blew hot and cold.
Since the revelation of Elon Musk's stake in the capital of Twitter in early April, the group has lived to the rhythm of the many twists and turns of the case.
Just last week, Elon Musk notably announced that he was suspending the operation because he wanted to ensure “that spam and fake accounts really represented less than 5% of the number of users”.
Before reiterating its commitment to acquire the social network.
Twitter boss Parag Agrawal stepped up to explain the measures taken by the social network to fight against fake accounts.
Elon Musk had responded with several messages, including a simple emoji in the shape of a poop who laughs but says he wants to be a buyer.
This time with this change in the financial structure for this takeover, investors can believe that we are approaching the epilogue with the takeover of the social network by the billionaire.
After this announcement, the action of the blue bird group soared in trading after the close of Wall Street with a nice increase of about 5%.
But beware Elon Musk is still able to change his tune at lightning speed.
It is not said that he will not try new poker moves in the coming days to try to lower the final price of Twitter.
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It also remains to know the choice of the current shareholders of Twitter.
If Elon Musk says he wants to make the platform a bastion of free speech to break with the feeling developed by Republicans in the United States and fueled by former President Donald Trump that the American right is censored by social networks, the shareholders will have to vote on this takeover project at an extraordinary general meeting, the date of which has not yet been set.