JAKARTA - In the Twitter acquisition deal, Elon Musk will have to pay Twitter Inc (TWTR.N) a fee of 1 billion US dollars (Rp 14.4 trillion) if the billionaire cancels a cash deal worth 44 billion US dollars (Rp 636.6 trillion) unilaterally. to the social media company. The statement was contained in the contract announcement on Tuesday, April 26.
One of Musk's payment terms is that if the deal fails because the required equity, debt, and/or margin loan financing is not met, it will take effect.
Twitter said Monday, April 25, that Musk had secured $25.5 billion in debt and margin loan financing and committed $21 billion in equity commitments.
Twitter, which is subject to "no-shop" restrictions, must also pay the same cancellation fee in certain circumstances.
The announcement also reveals that the deal could be terminated if it does not close by October 24. This date can be extended for another six months to meet certain closing conditions such as an antitrust permit and a foreign investment permit.
Musk, who is also the chief executive of electric car maker Tesla Inc, struck a deal to buy Twitter last Monday in a transaction that would shift control of the social media platform home to millions of users and global leaders to the world's richest man.
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