Twitter Drifts Away From Musk’s Offer as Financing Concerns Loom

The price difference between Elon Musk's $54.20 per share bid and Twitter Inc. shares is expected to grow on Friday as the purchase negotiations are reportedly at a standstill due to a debt financing contingency. 

The social network company's stock, which closed Thursday at $49.39, fell as much as 1.9% in premarket trade as questions over the finance of the deal persisted.

Because of these concerns, Twitter's stock has remained around 10% below the offer price.

The stock is expected to decline for a third day after skyrocketing on Tuesday as a result of Musk's unexpected U-turn from his attempt to pull out of the transaction, possibly averting a lengthy legal battle.

The Tesla CEO stated that his offer is predicated upon getting $13 billion in debt funding on October 3.

Then, on Thursday, Bloomberg reported that, in part, due to the new contingency, negotiations to achieve a settlement had halted. 

A Delaware judge stopped a lawsuit Musk was facing over his acquisition of Twitter the same day, allowing the parties extra time to finish the transaction.

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