Elon Musk ready to invest up to $15 billion to buy Twitter: Report

Thursday, 21 April 2022 (1 month ago) 23 views
Rate this news

Elon Musk is willing to invest between $10 billion and $15 billion of its own funds to take Twitter Inc Pvt, the New York Post reported on Tuesday, citing two sources familiar with the matter.

The billionaire, who is Twitter’s second-largest shareholder with a 9.1% stake, plans to launch a tender offer in about 10 days and tap Morgan Stanley to raise another $10 billion in debt, according to the report,

musk, whatever Tesla Inc.’s chief executive officer may also be willing to borrow against his current stake if necessary, a move that could potentially raise several billions of additional dollars, the New York Post reported.

Twitter declined to comment. Tesla did not immediately respond to a Reuters request for comment from Musk.

Social media companies adopted the poison pill”To protect ourselves from Musk’s $43 billion buyout offer last week.

More private-equity firms have expressed interest in participating in a deal for Twitter, people familiar with the matter told Reuters on Monday, without naming the firm.

Interest emerged after technology-focused PE firm Thoma Bravo approached the social media platform last week to find out purchases that challenged Musk’s offer.

Sources told Reuters that Apollo Global Management Inc. is looking at ways to provide financing for any deal and is ready to work with Musk or any other bidder.

Many investors, analysts, and investment bankers expect Twitter’s board to reject Musk’s offer in the coming days, saying it is inadequate.

Twitter shares were down 1.6% at $47.69 in afternoon trading, well below Musk’s offer of $54.20.


Tags :
Rate this news

Comments

Your email address will not be published.