The social media company took a “poison pill” last week to protect itself from Musk’s $43 billion buyout offer.
The social media company took a “poison pill” last week to protect itself from Musk’s $43 billion buyout offer.
The New York Post reported Tuesday, citing two sources familiar with the matter, that Elon Musk is willing to invest between $10 billion and $15 billion of his own money to take Twitter Inc.
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According to the report, 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 has tapped Morgan Stanley to raise another $10 billion in debt. has done.
Musk, who is also the chief executive of Tesla Inc., may 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.
The social media company adopted a “poison pill” last week.
To protect himself from Musk’s $43 billion buyout offer.
More private-equity firms have expressed interest inParticipate in a deal for TwitterPeople familiar with the matter told Reuters on Monday without naming the firm.
Thoma Bravo, a technology-focused PE firm, contacted the social media platform last week to show interest after unearthing a buyout that would challenge 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.