Nearly two years after Elon Musk’s acquisition, X’s business is still struggling to climb out of the deep hole it fell into under his ownership.
The $13 billion that Elon Musk borrowed to buy Twitter has turned into the worst merger-finance deal for banks since the 2008-09 financial crisis.
The seven banks involved in the deal, including Morgan Stanley and Bank of America, lent the money to the billionaire’s holding company to take the social-media platform, now named X, private in October 2022. Banks that provide loans for takeovers generally sell the debt quickly to other investors to get it off their balance sheets, making money on fees.
Now now… I agree that the Peleset are all awful, but what have the Weshesh ever done to you?
Burning olive oil can’t melt copper bars! The attack on the twin ziggurats was an inside job masterminded by the King of Uruk, Gilga W Mesh!
We hic! Needsh to g’hic! Wesh…eshh