reddig33@lemmy.world to Enough Musk Spam@lemmy.world · 11 months agoElon Musk told bankers they wouldn’t lose any money on Twitter purchasearstechnica.comexternal-linkmessage-square31fedilinkarrow-up1156arrow-down13
arrow-up1153arrow-down1external-linkElon Musk told bankers they wouldn’t lose any money on Twitter purchasearstechnica.comreddig33@lemmy.world to Enough Musk Spam@lemmy.world · 11 months agomessage-square31fedilink
minus-squareolosta@lemmy.worldlinkfedilinkarrow-up8·11 months agoThese 13 billions were not loaned to Musk but to Twitter. So Musk has no obligation to personally honor those loans. The bank bought the story sold by Musk that he could make Twitter so profitable that the company could repay these loans. https://www.aljazeera.com/economy/2022/10/28/how-elon-musk-financed-his-twitter-takeover
minus-squareatocci@kbin.sociallinkfedilinkarrow-up13·11 months agoThey loaned Twitter the funds to buy itself? The more I see the bigger this scam seems.
minus-squareolosta@lemmy.worldlinkfedilinkarrow-up7·11 months agoA perfectly common practice: https://en.m.wikipedia.org/wiki/Leveraged_buyout The buyer is not supposed to kill the value of the company this quickly though.
minus-squarereddig33@lemmy.worldOPlinkfedilinkarrow-up5·11 months agoCan they seize Twitter and sell it to someone else?
These 13 billions were not loaned to Musk but to Twitter. So Musk has no obligation to personally honor those loans. The bank bought the story sold by Musk that he could make Twitter so profitable that the company could repay these loans.
https://www.aljazeera.com/economy/2022/10/28/how-elon-musk-financed-his-twitter-takeover
They loaned Twitter the funds to buy itself? The more I see the bigger this scam seems.
A perfectly common practice: https://en.m.wikipedia.org/wiki/Leveraged_buyout
The buyer is not supposed to kill the value of the company this quickly though.
Can they seize Twitter and sell it to someone else?