Latest News

Musk says he has secured $46.5 billion in funding for Twitter bid

0

2/2
© Reuters. FILE PHOTO: Tesla CEO Elon Musk speaks at an event in Hawthorne, California April 30, 2015. REUTERS/Patrick T. Fallon/File Photo
2/2

(Reuters) -Elon Musk has secured a funding commitment of $46.5 billion to buy Twitter Inc (NYSE:TWTR) and is planning to start a tender offer for its shares, a filing with U.S. regulators showed on Thursday.

Musk himself has committed to put up $33.5 billion, which will include $21 billion of equity and $12.5 billion of margin loans, to finance the transaction.

Banks, including Morgan Stanley (NYSE:MS), have agreed to provide another $13 billion in debt secured against Twitter itself, according to the filing.

Musk. Twitter’s second-largest shareholder, has offered to buy the company for $43 billion that has prompted Twitter to adopt a “poison pill” to limit Musk’s ability to raise his stake in the social media platform.

Musk secures $46.5 billion financing commitment for Twitter, explores tender offer

New U.S. sanctions imposed for Russian bank, oligarchs, crypto miner BitRiver

Previous article

There’s only one way for Twitter to dodge Elon Musk’s Twitter takeover, analyst says

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News