Click here to read the full article.
Billionaire Tesla CEO Elon Musk has secured the funding required financing to make a tender offer to buy Twitter and take the company private, according to a new SEC filing.
The document shows that Musk has received $46.5 billion in commitment to help finance the proposed deal. Through a tender offer, Musk plans to approach Twitter shareholders directly and offer to buy their shares within a specific time frame.
Musk, the richest man in the world, has secured $25.5 billion in debt financing from Morgan Stanley Senior Funding and other financial institutions. He has also committed to provide $21 billion in equity financing, according to the document.
Musk is seeking to negotiate a “definitive agreement” with the board for the acquisition of Twitter.
Continue reading here.
Scroll down for comments and share your thoughts!
GIPHY App Key not set. Please check settings