The White House has clarified that the Biden Administration is not discussing subjecting Elon Musk’s ventures to national security reviews. According to reports, Tesla CEO Elon Musk is working to conclude the $44 Billion Twitter buyout agreement by Friday in order to avoid a trial.
No National Security Reviews on Elon Musk’s Ventures
The White House has reportedly clarified that reports of national security reviews of some of Elon Musk’s ventures are not true.
While declining to comment on the Biden administration’s relationship with the Tesla boss or his companies, White House press secretary Karine Jean-Pierre confirmed:
Those reportings are not true … The national security review — that is not true.
Last week, Bloomberg reported that U.S. officials were weighing what tools were available to allow the government to subject Musk’s ventures, including Spacex’s Starlink satellite network and Musk’s $44 billion Twitter acquisition deal, to national security reviews.
The Tesla CEO stated that Spacex would continue to fund Ukraine even though Starlink was losing money. His statement followed a letter Spacex sent to the Pentagon stating that the company is not “in a position to further donate terminals to Ukraine, or fund the existing terminals for an indefinite period of time.”
Elon Musk plans to close the $44 billion Twitter deal by Friday
Tesla CEO Elon Musk reportedly intends to complete the Twitter buyout agreement by Friday. According to Reuters, Musk also told co-investors that he plans on funding the $44 billion purchase of Twitter by Tuesday according to a source familiar with it.
In a May filing with the U.S. Securities and Exchange Commission (SEC), Musk said he received equity commitment letters from a number of investors “providing for an aggregate of approximately $7.139 billion.” They include cryptocurrency exchange Binance, Sequoia Capital, and Fidelity Management and Research Co. The news outlet reported that banks including Bank of America Corp. and Morgan Stanley have also committed $13 billion in debt financing.
Musk AccededTwitter to be bought for approximately $44 billion in April. He tried to renegotiate the deal but Twitter accused him of trying to a…” Material breachThe agreement. He was officially TerminatedHis July offer to purchase the social media platform was accepted. Twitter was then purchased. suedTo force Musk to sign the agreement. Musk retaliated with Twitter.
Musk however, was last week The agreed price per share of $54.20 was the price he would pay for Twitter. To avoid trial, the Delaware Court of Chancery gave Musk until October 28th to finalize the Twitter deal. Musk stated that Twitter’s purchase will be completed in the shortest time possible. Accelerate the creation of “X, the everything app.”
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