White House says reports of national security investigations into Elon Musk are ‘false’ – Tesla CEO prepares to seal the deal on Twitter Friday

The White House clarified that the Biden administration is not considering national security review of Elon Musk’s companies. The Tesla CEO is reportedly preparing to close the $44 billion Twitter buyout deal by Friday to avoid a lawsuit.

No national security review for Elon Musk’s companies

The White House has reportedly clarified that reports of national security reviews of some of Elon Musk’s companies are not true.

While declining to comment on the Biden administration’s relationship with the Tesla boss or his companies, White House press secretary Karine Jean-Pierre confirmed:

These reports are not true … The national security review – it’s not true.

Last week, Bloomberg reported that U.S. officials were reviewing the tools available to allow the government to subject Elon Musk’s companies, including Spacex’s Starlink satellite network and Musk’s $44 billion Twitter acquisition deal, to national security reviews.

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Recently, the Tesla chief said Spacex would continue to fund Ukraine for free, even if Starlink loses money. His statement follows a letter Spacex sent to the Pentagon in which he said the company is not “in a position to donate new terminals to Ukraine, nor to fund existing terminals indefinitely.

Elon Musk expects to close the $44 billion deal with Twitter by Friday.

The Tesla CEO expects to close the Twitter buyout deal by Friday. Citing a person familiar with the deal, Reuters reported on Tuesday that Musk has also informed co-investors who have committed to funding the $44 billion acquisition of Twitter of his plan.

In a May filing with the U.S. Securities and Exchange Commission (SEC), Elon Musk said he had received commitment letters to participate from a number of investors.”providing for a total of approximately $7.139 billion“. These include Binance, Sequoia Capital and Fidelity Management and Research Co. In addition, banks including Morgan Stanley and Bank of America have committed to provide $13 billion in debt financing to support the deal, according to the news outlet.

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Elon Musk agreed to buy Twitter in April for about $44 billion. However, he later tried to back out of the deal, accusing Twitter of breaking the rules of the agreement. It officially terminated its buyout offer in July. Twitter then sued to force it to close the deal.

However, last week, Elon Musk said he would buy Twitter at the agreed-upon price of $54.20 per share. The Delaware Court of Chancery gave the billionaire until Oct. 28 to complete the deal with Twitter to avoid a lawsuit. Musk said the purchase of Twitter will accelerate the creation of “X, the everything app“.

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