Apollo Global, Sixth Street Never Part of Musk’s Twitter Takeover
- Blog
- October 7, 2022
Apollo Global, Sixth Street Never Part of Musk’s Twitter Takeover
Tesla CEO Elon Musk approved going through with the $44 billion Twitter deal at $54.20 per share, raising concerns among investors. Apollo Global Management or Sixth Street Partners did not participate in the May third-party equity financing or even the May debt financing.
Investors were concerned about Elon Musk’s $44 billion proposal to buy Twitter due to the turmoil surrounding the withdrawal of funding from Apollo Global Management and Sixth Street Partners. The Tesla CEO, however, acknowledges that neither company participated in the May third-party equity financing or debt financing.
The Future Fund LLC’s managing partner, Gary Black, tweeted on October 6 that the lack of interest in funding the Twitter transaction from both of the companies was not important. He further claimed that neither company participated in the $7.1 billion external equity fundraising in May. Furthermore, neither Apollo Global nor Sixth Street was a part of Musk’s debt financing.
Musk also tweeted back “Correct” in the comments section suggesting that the two companies were irrelevant to the takeover. Moreover, the Tesla CEO’s approval of the Twitter takeover transaction is believed to potentially influence future elections.
Elon Musk and Twitter both have agreed to postpone Thursday’s deposition as they work to resolve their lawsuit and finalize Musk’s $44 billion Twitter deal. Dogecoin (DOGE) surged about 10% to a high of $0.66 as Musk agreed to proceed with the Twitter takeover at a previously established $54.20 per share. Twitter stock also soared nearly 20%, reaching a new high of $52.06.
