Musk-Twitter Deal Is Said to Be Stuck on Debt Contingency (1)

Talks between Elon Musk and Twitter Inc. to reach a resolution of the $44 billion takeover are stuck in part over Musk’s statement that his offer is now contingent on receiving $13 billion in debt financing, according to people familiar with the matter.

The billionaire’s lawyers said in an Oct. 3 SEC letter that Musk was willing to do the $54.20-per-share deal on its original terms “pending receipt of the proceeds of the debt financing.” The original deal didn’t contain such a contingency.

The discussions between the world’s richest man and the social media platform are aimed at resolving remaining ...