Twitter Stock Plunges As Elon Musk Says $44 Billion Takeover ‘On Hold’

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The Street

By Martin Baccardax Twitter (TWTR) – Get Twitter, Inc. Report shares plunged lower in pre-market trading after Tesla (TSLA) – Get Tesla Inc Report CEO Elon Musk said his $44 billion takeover of the social media group was “temporarily on hold”. Musk, who has looked to alter the financing of his ‘take private’ deal on a number of occasions, bringing in new equity investors and reportedly soliciting others to reduce the exposure of the $62.5 billion worth of Tesla shares he’s pledged against margin loans, made the declaration through his verified Twitter account early on Friday in response to a R…

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