Twitter Buyout Revives $12.5 Billion Headache for Wall Street Banks – Yahoo Finance

(Bloomberg) — Elon Musk’s shock proposal to proceed with his acquisition of Twitter Inc. for the original offer price poses a headache at the worst possible time for Wall Street banks already struggling to offload billions of dollars in buyout debt they committed to in better times.Most Read from BloombergMusk Revives $44 Billion Twitter Bid, Aiming to Avoid TrialLoretta Lynn, Coal Miner’s Daughter And Country Queen, DiesElon Musk Sets Off Uproar in Ukraine by Tweeting His ‘Peace’ PlanBiden, Kishida Condemn North Korean Missile Launch Over JapanStock Shorts Fold in Best Two-Day Rally Since 2020: Markets WrapAfter months of legal drama in an attempt to back out of the deal, billionaire Musk is now willing to buy the social-media giant for $54.20 a share. In a letter his lawyers sent to Twitter, Musk’s acquisition is now pending “receipt of the proceeds of the debt financing.”That means it’s now time for a group of Wall Street banks led by Morgan Stanley to step up. They committed debt financing for the deal back in April, with the intention to sell most of that to institutional investors.If terms of the original $12.5 billion financing package remain the same, bankers may struggle to sell the…
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