let that sink in – APN News https://apnlive.com KHABAR HAI TO DEKHEGI Thu, 27 Oct 2022 07:44:26 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.4 https://d2r2ijn7njrktv.cloudfront.net/apnlive/uploads/2022/05/11182423/cropped-apn-logopng-32x32.png let that sink in – APN News https://apnlive.com 32 32 183212769 Let that sink in! Elon Musk posts video of entering Twitter HQ with a sink | WATCH https://apnlive.com/top-news/elon-musk-entering-twitter-with-a-sink/ Thu, 27 Oct 2022 06:56:11 +0000 https://apnlive.com/?p=399712 Elon MuskMusk had earlier updated his bio to read ‘Chief Twit’, reiterating his intention to take over the organisation.

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Elon Musk arrived at the Twitter headquarters on Wednesday carrying a sink in ahead of the court-mandated deadline for the $44 billion Twitter takeover agreement.

Entering Twitter HQ – let that sink in! The richest man on earth posted an amusing video on his twitter with this remark.

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Watch the viral video here:

Musk had earlier updated his bio to read ‘Chief Twit’, reiterating his intention to take over the organisation. Musk will visit the San Francisco office this week, Twitter has also confirmed, but the company chose not to elaborate.

It would put an end to months of uncertainty after the billionaire committed to buy the social network, then tried to back out, and a court has given Musk until Friday to finalise an agreement to acquire the business.

Although Musk made a grand entrance at the company’s headquarters, it wasn’t yet known if his purchase of Twitter had been completed. This week, Reuters reported that Musk had informed the deal’s investors that he intended to complete the acquisition by the deadline on Friday.

Musk’s biggest challenge in finalising the acquisition was maintaining the finance committed around six months earlier. A collection of financial institutions, including Morgan Stanley and Bank of America, agreed to lend Musk $12.5 billion earlier this year so that he could purchase Twitter and take it private.

Although the banks were obligated to the financing due to strong contracts with Musk, the terms are probably no longer as favourable given the state of the economy and the debt markets as of April. Even more, Musk declared that his investment firm will pay more than necessary to acquire Twitter.

Musk appears to start considering purchasing Twitter in late March. At that point, according to Twitter, he allegedly got in touch with the company’s board members, including co-founder Jack Dorsey, and informed them that he was buying up shares and was considering either joining the board, taking Twitter private, or launching a rival company.

Then, on April 4, he disclosed in a regulatory filing that he had acquired a 9 per cent stake in the business, making him the largest stakeholder.

Twitter initially offered Musk a position on its board. However, the CEO Parag Agrawal announced on Twitter six days later that Musk will not be joining the board after all. His offer to purchase the business came next.

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