Exclusive: Apollo Global Management and Sixth Street Partners, which were looking to provide financing to Elon Musk earlier this year for his proposed $44 billion buyout of Twitter, are no longer in talks with the billionaire entrepreneur
, are no longer in talks with the billionaire entrepreneur, according to two sources familiar with the matter.
Apollo, Sixth Street and other investors were looking to commit over $1 billion in financing for the deal at the time.Those talks ended months ago around the time Musk started having second thoughts about going through with the deal, the sources cited above said. Musk initially proposed the buyout in April before backtracking in July, and then changing course again this week.
Musk's U-turn on buying Twitter could not have come at a worse time for the banks funding a large portion of the $44 billion deal and they could be facing significant losses due to an unfavorable financing environment, Reuters reported on Tuesday.
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