Musk Reportedly Looking To Spend $15 Billion Of His Own Money To Acquire Twitter
To the unaware, Twitter recently adopted a ¡®poison-pill¡¯ strategy to protect itself from being bought by Musk¡¯s $43 billion offer, in his pursuit to make Twitter the perfect platform for promoting free speech.
Elon Musk isn¡¯t letting go of the chance to acquire Twitter. According to a Reuters report, the world¡¯s richest man is willing to invest around $10 billion to $15 billion of his own money to take the microblogging platform private.
Reuters
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This is according to two sources who are familiar with this matter. To the unaware, Musk is currently the second-biggest shareholder, holding a 9.1 percent stake in the company.
Musk now wishes to launch a tender offer in around ten days, and has even sought help of financial firm Morgan Stanley to raise another $10 billion in debt.
Musk is also looking to borrow against its current stake, if the situations call for it, which could allow an influx of several billion dollars, according to a report by the New York Post.
To the unaware, Twitter recently adopted a ¡®poison-pill¡¯ strategy to protect itself from being bought by Musk¡¯s $43 billion offer, in his pursuit to make Twitter the perfect platform for promoting free speech.
People familiar with the matter have also revealed that more private equity firms are developing interest in participating in a deal for the micro-blogging platform. This came after Thoma Bravo, a tech-focussed PE firm contacted the platform last week to explore a buyout in order to challenge Musk¡¯s offer.
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Also Read: Elon Musk Seriously Considering Making A New Social Media Platform
Alternatively, Apollo Global Management is looking at ways to provide financing to any deal and is ready to work with not just Musk but any other bidder, according to sources in a conversation with Reuters.
Several investors, analysts, as well as investment bankers, expect Twitter¡¯s board to reject Musk¡¯s offer on the grounds of it being inadequate.
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