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    Musk Strengthens His Financial Base By Withdrawing Twitter Acquisition To Support Profit On The Sale Of Tesla Shares

    Jul 12,2022 | Chloe Lacour

    Eron Musk, CEO of US electric vehicle (EV) giant Tesla, could strengthen its financial base more than before with the planned withdrawal of the $ 44 billion Twitter acquisition. Sex has been pointed out. That's because he has about $ 8.5 billion in cash from the sale of Tesla shares to buy Twitter.

    Mr. Musk withdrew the Twitter acquisition proposal on the 8th, saying that there were serious violations of multiple agreement terms. Twitter wants to fulfill the deal, and Musk could cost billions of dollars if involved in a protracted court battle.

    "We've almost certainly sold a lot of Tesla shares at relatively high prices, so we're almost certainly in a better cash position than a year ago," said Sam Abuelsamide, an analyst at Guidehouse Insight. "Depending on the final outcome of the proceedings, we could be in a worse situation," he said.

    If Mr. Musk loses and completes the Twitter acquisition or is required to pay a large penalty, he may be forced to sell more Tesla shares, which upsets investors and is owned by Mr. Musk. He said it could hurt the value of the remaining Tesla stocks.

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