Elon Musk secures $46.5 billion financing commitment for Twitter, explores tender offer
Story Outline
Tesla CEO Elon Musk has secured a funding
Musk himself has committed to put up $33.5 billion
Banks, including Morgan Stanley, have agreed to provide another $13 billion
Musk himself has committed to put up $33.5 billion
Banks, including Morgan Stanley, have agreed to provide another $13 billion
By Reuters
Last Updated:
Tesla CEO Elon Musk has secured a funding commitment of $46.5 billion to buy Twitter Inc and is planning to start a tender offer for its shares, a filing with U.S. regulators showed on Thursday.
Banks, including Morgan Stanley, 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.
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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. Elevate Your Tech Prowess with High-Value Skill Courses
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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.
