Elon Musk Has Secured $46.5 Billion To Realise His Dream Of Buying Twitter

A filing with US regulators yesterday showed that Elon Musk has secured $46.5 billion in funding to buy Twitter Inc.

Reuters

Also Read: Musk Reportedly Looking To Spend $15 Billion Of His Own Money To Acquire Twitter

Musk has committed to put up $33.5 billion that will be inclusive of $21 billion of equity and $12.5 billion of margin loans, in order to go ahead with the transaction. Moreover, he has sought support from banks including Morgan Stanley -- where they're able to offer another $13 billion in debt secured against Twitter itself.

This move comes right after Twitter didn¡¯t respond to Musk¡¯s previous offer and ended up going with a ¡®poison-pill¡¯ strategy to not allow the world¡¯s richest man to take the reins of the microblogging platform.

The move pushed Musk to become the second-largest shareholder of the company. Musk is strongly of the opinion that the micro-blogging platform needs to be taken private to grow and become a platform for free speech.

Also Read: Elon Musk¡¯s Tweets Over Taking Tesla Private Were False, Rules US Federal Judge

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The offer has also drawn private equity interest in participating in a deal for Twitter, revealed to a previous Reuters report. Financial institutions such as Apollo Global Management Inc are looking at ways it can finance any deal and are open to working with Musk or any other bidder.

Additionally, Thoma Bravo has informed Twitter that it is also exploring the possibility of putting together a bid.

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