Binance, Sequoia still backing Elon Musk’s bid for Twitter

Oct 11,2022
KingData News: Binance and tech investor Sequoia Capital are reportedly still backing Tesla CEO Elon Musk’s $44 billion takeover bid of social media platform Twitter. Sequoia Capital already committed $800 million to the deal back in April. According to an unnamed source familiar with the matter, the firm will keep that capital allocation to support the deal now that the deal is reportedly back this month. Binance has also indicated that it will carry on with its contribution of $500 million. At the start of October, it was reported that Musk had pulled another abrupt U-turn by filing a notice with the Delaware Chancery Court on Oct. 3 indicating that he is ready to proceed with the “closing of the transaction contemplated by the April 25, 2022 Merger Agreement.” If the deal goes through, the purchase will be for the initially agreed upon $54.20 per share for a total of $44 billion.
This index provides an up-to-date account of Twitter acquisition proposed by Elon Musk.