web analytics

Elon Musk’s Revived Twitter Deal Could Saddle Banks With Big Losses

Banks that agreed to fund Elon Musk’s takeover of Twitter are facing the possibility of big losses now that the billionaire has shifted course and indicated a willingness to follow through with the deal, in the latest sign of trouble for debt markets that are crucial for funding takeovers.

The $44 billion deal, which Mr. Musk had been trying to walk away from, would be paid for in part with some $13 billion of debt seven banks including Morgan Stanley Bank of America and Barclays PLC agreed to provide when the takeover was sealed in April.