One of the conditions for Musk's payment is if the deal
falls through because the equity, debt and or margin loan financing needed is
not funded, the filing said.
Twitter said on Monday that Musk had secured $25.5 billion of
debt and margin loan financing and is providing a $21 billion equity
commitment.
Twitter, which is subject to "no-shop"
restrictions, will have to pay the same termination fee under specified
circumstances, the filing said.
The filing also disclosed that the deal could be terminated
if not closed by October 24. The date could be extended for another six months
to meet certain closing conditions such as antitrust and foreign investment
clearances.
Musk, who is also the chief executive of electric-car maker
Tesla, clinched a deal to buy Twitter on Monday in a transaction that will
shift control of the social media platform populated by millions of users and
global leaders to the world's richest person. © Reuters
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