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Elon Musk Charged with a Whopping amount for Twitter

Recently, Elon Musk, who bought  the micro – blogging platform Twitter for $44 billion, has cancelled  the deal. So, the platform has charged The Tesla CEO to pay $1 billion in termination fee to Twitter. He will be required to pay Twitter a termination fee of $1 billion, according to an earlier filing with the US Securities and  Exchange Commission.

Musk was likely to provide equity financing of nearly $21 billion on his own. He said that the platform is crossing the terms of his $54.20 per share offer by refusing to give him more information about how much of the platform’s traffic is driven by fake accounts.

Tesla shares grew more than 14% in after – hours trading yesterday, closing the deal because investors responded optimistically to Musk’s deed. Tesla shares escalated to 14.51% to close at $ 752.29. Bringing his total equity commitment to $ 33.5 billion, Musk committed to offer an additional $6.25 billion in equity financing for his $ 44 billion Twitter takeover.

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