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Elon Musk formally moves to terminate Twitter’s $44 billion acquisition

Teslarati

In a letter , Musk’s legal team stated that despite the Tesla CEO’s requests for critical data on the social media platform’s users, Twitter had been uncooperative. This is reportedly based on Musk’s own preliminary review of spam accounts on Twitter. Musk and the Twitter board had agreed to a buyout at $54.20

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Porsche expanding open source software initiative; FOSS

Green Car Congress

In addition to the Open Source Office, employees from the vehicle development, corporate IT and legal departments, as well as Porsche Digital, were involved in the development of the FOSS Movement. Over the past two years, we’ve made remarkable strides and firmly anchored the use of open source within the company.

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Elon Musk, Twitter reach agreement for sale of social media platform

Teslarati

billion of fully committed debt and margin loan financing and is providing approximately $21 billion in equity commitment, the release said. There are no financing conditions to the closing of the transaction. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel, the release said. Musk has secured $25.5

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Velocys establishes strategic alliance with TRI for gasification systems for BTL plants

Green Car Congress

TRI will support Velocys and its partners to further optimise overall plant cost and the financing of BTL plants through, for example, accessing governmental loan guarantee processes and securing independent engineering reviews. The agreement is not exclusive on either party. Earlier post.)

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EV maker CODA files for Chap. 11 bankruptcy; restructuring business around energy storage

Green Car Congress

FCO MA CODA Holdings LLC, an affiliate of Fortress Investment Group, is leading a consortium of lenders intending to provide debtor-in-possession (DIP) financing to enable CODA’s extant energy storage business (CODA Energy) to remain fully operational during the restructuring process. CODA expects the sale process to take 45 days to complete.

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California GAP legislation: Sellers fast to conform

Baua Electric

Texas bans assured asset coverage that might value customers greater than 5 % of the quantity financed, and Colorado received’t let sellers worth the protection above $300 or 2 % of the quantity financed, whichever is larger. Minnesota bans the sale of the safety on impaired automobiles significance $5,000 or much less.

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Velocys in strategic alliance with Morimatsu for modular, lower cost GTL and BTL plants

Green Car Congress

Velocys expects the terms of the MOU to be reflected in legally binding documentation within the next few months. This is the first strategic partnership that has been formalized since a review of Velocys’ strategy was completed in 4Q 2016.

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