- Retegui hat-trick fires five-star Atalanta to hammering of Genoa
- Heavyweights Australia, England off to World Cup winning starts
- Visiting UN refugee agency chief decries 'terrible crisis' in Lebanon
- Spinners come to party as England defeat Bangladesh at T20 World Cup
- Search continues for missing in deadly Bosnia floods
- Man City sink Fulham to get title bid back on track
- France's Auradou whistled on Pau return in Perpignan loss amid ongoing rape case
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Arsenal hit back in style after Southampton scare
- Hezbollah heir apparent Safieddine out of contact after strikes
- Liverpool stay top of Premier League as Arsenal, Man City win
- In dank Tour of Emilia, Pogacar shines in rainbow jersey
- DR Congo launches mpox vaccination drive, hoping to curb outbreak
- Trump returns to site of failed assassination
- Careless Leverkusen held to Bundesliga draw
- O'Brien's 'superstar' Kyprios posts landmark win on Arc weekend
- Liverpool suffer Alisson injury blow
- Habosi helps Racing beat Vannes before Auradou's playing return
- Thousands march in London in support of Palestinians, 1 year after Oct 7
- Israel readying response to Iran missile attack
- Schutt, Mooney help Australia beat Sri Lanka in Women's T20 World Cup
- Liverpool extend Premier League lead with win at Palace
- Djokovic 'shakes rust off' to make third round of Shanghai Masters
- 'Imperfect' PSG fighting on all fronts - Luis Enrique
- Struggling Pakistan look to thwart adaptable England
- Child 'trampled to death' in asylum seekers' Channel crossing: minister
- Gauff fights back to set up Beijing final against Muchova
- Guardiola claims Premier League won't delay season for Man City
- Israel to mark October 7 attack as Gaza war spreads
- Gauff fights back to reach China Open final
- Recovering Stokes ruled out of first Pakistan Test
- Hezbollah battles troops on border as Israel pounds Lebanon
- Alcaraz, Sinner breeze into third round of Shanghai Masters
- Bagnaia wins Japan MotoGP sprint to cut Martin's lead
- Alcaraz breezes into third round of Shanghai Masters
- Gaza cultural heritage brought to light in Geneva
- 'Bullet for democracy': Trump returns to site of rally shooting
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- South Korean cult-horror series 'Hellbound' returns at BIFF
- Nepalis fear more floods as climate change melts glaciers
- Honduras arrests environmentalist's alleged murderer
- Padres pitcher Musgrove needs elbow surgery
- Supreme Court lets stand rules to curb mercury, methane emissions
- Boston beat Denver in NBA exhibition season opener, but Jokic says omens are good
- Chagos diaspora angry at lack of input on islands' fate
- Biden says 'not confident' of peaceful US election
- US trade chief defends tariff hikes when paired with investment
- Lukaku stars as Napoli beat Como to hold Serie A top spot
- Ohtani set for MLB playoff debut as Dodgers face Padres
- Pogba's drug ban cut to 18 months from four years
Musk secures $7.1 bn to finance Twitter deal
Elon Musk has raised $7.1 billion for his Twitter acquisition from investors that include Oracle founder Larry Ellison and Saudi Prince Alwaleed bin Talal, according to a securities filing Thursday.
Musk, chief executive of Tesla and SpaceX, listed 18 investors who agreed to cash investments including Ellison ($1 billion), Sequoia Capital ($800 million) and Vy Capital ($700 million).
The Saudi prince, the head of the Kingdom Holding Company conglomerate, agreed to contribute about 35 million Twitter shares worth $1.9 billion so as to retain a stake in the company post-acquisition, the filing said.
Alwaleed had previously balked at Musk's $54.20 per share offer as too low, but praised Musk on Twitter on Thursday, saying "I look forward to roll our ~$1.9bn in the 'new' @Twitter and join you on this exciting journey."
The investments will reduce a $12.5 billion margin loan organized through Morgan Stanley and other banks to $6.25 billion, the filing said.
The new financing means less of Musk's Tesla shares will be used as collateral under the margin loan.
Musk "may receive additional financing commitments to fund additional portions of the total Merger Consideration," the filing said, adding that the Tesla chief is in talks with former Twitter Chief Executive Jack Dorsey and others who may contribute shares to maintain an equity stake.
The Twitter takeover is expected to close later in 2022.
CNBC reported that upon completion of the deal, Musk is expected to serve as temporary CEO of Twitter for a few months, the network said, citing unnamed sources.
J.Pereira--PC