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Filing says Elon Musk to borrow less in Twitter bid

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Filing says Elon Musk to borrow less in Twitter bid

Elon Musk acknowledged his bid to buy Twitter may fail, but said he has a “plan B” – Copyright POOL/AFP/File Britta Pedersen

Elon Musk notified US regulators on Wednesday that he will rely less on loans in his bid to buy Twitter, as he and partners put $33.5 billion into the deal.

Twitter shares climbed more than 5 percent on the news, as the market evidently took it as a sign the acquisition is moving forward despite Musk declaring it on “hold” due to his concerns about the number of accounts that might be software “bots” instead of real people.

The Tesla chief said in a filing with the US Securities and Exchange Commission that he would seek $13 billion in loans for the Twitter buy instead of using nearly double that much debt as previously indicated.

Musk has been courting major Twitter investors including co-founder Jack Dorsey in the hope of getting them to partner with him in taking the San Francisco-based company private.

Musk said in the regulatory filing that he had new commitments that will allow him to rely less on loans to buy Twitter, but did not specify whether he was reaching into his own pocket for money or had won over others with big stakes in the company.

Analysts were concerned about Musk using billions of dollars worth of his Tesla shares to back loans, meaning the electric car company’s stock price would be affected by the fortunes of Twitter.

Wedbush analyst Dan Ives said in a tweet that Musk changing the Twitter buy financing structure was a “good move” but that the buyout “game of high stakes poker continues.”

Wedbush estimated the chances of the Musk buy of Twitter happening as even odds, Ives said in the tweet.

Twitter’s share price has fallen on signs Musk might not complete his buy of the company for the offered $54.20 per share, and risen on indications the deal is moving forward.

Twitter shares were just shy of $40 each in after-market trades on Wednesday, signaling a lack of faith by investors in the original deal being culminated.

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New Report Looks at the Importance Versus Annoyance of Two-Factor Authentication [Infographic]

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New Report Looks at the Importance Versus Annoyance of Two-Factor Authentication [Infographic]

Do you use two-factor authentication, or some other form of advanced password protection for your social media accounts?

Have you ever been locked out of your account due to advanced protection measures?

Two- or multi-factor authentication adds an additional level of friction to the log-in process, which can be frustrating day-to-day, as you need to use a secondary device to access your account. But at the same time, it’s one of the best ways to protect your account from hacking – as is reflected in this new survey by Beyond Identity.

The results here show that while three in four respondents find multi-factor authentication an annoyance, 65% also indicate that it’s saved them from an account being compromised.

And with so much of our personal and work lives now playing out online, it’s important to have that extra protection to avoid fraud and identity theft.

Check out the results of Beyond Identity’s multi-factor authentication report below – and then go and activate advanced password protection on your accounts.

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