Tesla’s CEO Elon Musk secured the necessary funding to make a tender offer to buy Twitter, according to a new regulatory filing. The filing shows that Musk received $46.5 billion in commitment to help finance the proposed deal, the Epoch Times reports. Musk is contemplating a plan to approach Twitter shareholders directly and offer to […]
Tesla’s CEO Elon Musk secured the necessary funding to make a tender offer to buy Twitter, according to a new regulatory filing.
The filing shows that Musk received $46.5 billion in commitment to help finance the proposed deal, the Epoch Times reports.
Musk is contemplating a plan to approach Twitter shareholders directly and offer to buy them out.
According to the document, Musk has secured $25.5 billion in debt financing from Morgan Stanley Senior Funding and other financial institutions, including Bank of America, Barclays, and Mizuho. He has also committed to provide $21 billion in equity financing.
“Twitter has not responded to the proposal,” Musk said, according to the filing. “Given the lack of response by Twitter,” Musk is “exploring whether to commence a tender offer to acquire all of the outstanding shares” at $54.20 per share.
