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Breaking: Apollo Global, Sixth Street Weren’t Part Of Financing Twitter Deal, Elon Musk Agrees

Apollo Global and Sixth Street Partners weren't part of either third-party equity financing or debt financing for Elon Musk's Twitter deal.

Published by

Varinder Singh

Published 06 Oct, 2022 | 07:31:29 AM UTC

Breaking: Apollo Global, Sixth Street Weren’t Part Of Financing Twitter Deal, Elon Musk Agrees

After Tesla CEO Elon Musk agreed to proceed with the $44 billion buyout of Twitter at $54.20 per share, some noises surrounding third-party equity investors pulling out of the deal raised concerns among investors. In fact, Apollo Global Management and Sixth Street Partners were not part of either third-party equity financing in May or debt financing.

Apollo Global, Sixth Street Non-Interest Is Irrelevant In Twitter Deal

The drama surrounding Apollo Global Management and Sixth Street Partners backing out of financing Elon Musk’s bid for the $44 billion buyout of Twitter raised investor concerns over the deal. However, Elon Musk has agreed that both firms weren’t part of either third-party equity financing in May or debt financing.

Gary Black, the managing partner at investment advisor The Future Fund LLC, in a tweet on October 6 claims the non-interest of Apollo Global Management and Sixth Street Partners in financing the Twitter deal is irrelevant. He asserts both firms weren’t part of the $7.1 billion in third-party equity financing in May. Also, Apollo Global and Sixth Street weren’t part of Elon Musk’s debt financing.

Tesla CEO Elon Musk replied “Correct” to the tweets claiming the irrelevance of Apollo Global and Sixth Street in the Twitter buyout deal.

Furthermore, many believe Elon Musk’s agreeing with the Twitter acquisition deal could change the outcome of future elections.

Meanwhile, Elon Musk and Twitter have agreed to postpone the deposition scheduled for Thursday as both parties prepare to end their litigation and close Musk’s $44 billion Twitter buyout.

Dogecoin (DOGE) Price Jumps Amid Elon’s Musk Twitter Buyout

As Musk agrees to go with Twitter buyout at a previously decided $54.20 per share, Dogecoin (DOGE) price jumped nearly 10% to a high of $0.066. At the time of writing, the DOGE price is trading at $0.065.

Also, Twitter shares jumped over 20% to hit a high of $52.06. At the time of writing, Twitter shares are trading at $51.30 in pre-market hours.

Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Published by

Varinder Singh

Published 06 Oct, 2022 | 07:31:29 AM

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