Musk's X buyout 'worst hung debt' for banks since 2008 crisis: WSJ

The $13 billion borrowed by Elon Musk to buy X (formerly Twitter) has become the worst merger-finance deal for banks since the 2008-09 financial crisis, the WSJ reported. The banks have been unable to sell the debt and it has remained hung on their balance sheets. Some banks have reportedly reduced the value of the loan by millions of dollars.