Yahoo Finance is reporting that Elon Musk’s latest 13D Amendment filing reveals he is boosting his personal aggregate equity commitment to the takeover by $6.25 billion, to $33.5 billion. It appeared that Musk committing more of his personal equity to the takeover boosted investor sentiment, causing Twitter’s stock to jump from 3.91% up to 10% up. Tesla Stock meanwhile was down .88%.

What remains unclear is the state of the takeover bid. At last word Musk was indicating he felt Twitter’s representation of the percentage of average daily users who were bots, and not real people, was underestimated, Tesla meanwhile indicated Musk had violated the terms of their agreement by disclosing a parameter of how Twitter had arrived at its estimate of the number of bot accounts, and that this would endanger any potential deal. Musk had responded with a tweet indicating the SEC should investigate Twitter for misrepresenting the number of bots to shareholders. Although it si presumed both sides are conducting due diligence behind the scenes, since then neither side has commented publicly on the state of any deal or any potential change in terms, leaving many investors wondering if the deal would continue, or if Musk would seek a lower price.

 

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