Elon Musk says he’s secured $46.5 billion in financing to buy Twitter | protothemanews.com

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Elon Musk says he’s secured $46.5 billion in financing to buy Twitter

Author: Newsroom | Published: April 22, 2022

Musk has been seeking a takeover of the social media platform since he acquired 9 percent of its shares this month

Tesla CEO Elon Musk said in a filing Thursday he has secured $46.5 billion in financing to buy Twitter — mostly with borrowed money.

The filing shows a group of banks led by Morgan Stanley is prepared to lend Musk $25.5 billion, including a separate $12.5 billion loan pledged to the value of Musk’s Tesla shares.

Musk in turn would provide $21 billion in equity financing.

He is currently Twitter’s largest individual shareholder, owning a 9 percent stake in the company. After Musk made an offer this month to purchase Twitter for $43 billion, the social media company adopted a “poison pill” provision designed to prevent him from completing a hostile takeover of the company.

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To counter the poison pill, the tech mogul also said Thursday he continues to explore a so-called tender offer to acquire all of the social media company’s shares from current stockholders.

Twitter stock was up about 1 percent Thursday, to $47 a share.

Source: NBC

Tags With: business economy Elon Musk market marketing twitter world

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