Twitter: Musk would invest up to $15 billion in group acquisition

Posted 20 April, 2022

Twitter ended yesterday evening down 4.7% to $46.16 on Wall Street, still very far from the price offered by Elon Musk for a takeover of the social media network. The richest man in the world would be willing to personally invest between 10 and 15 billion dollars to delist Twitter, the New York Post reported yesterday Tuesday, citing two sources familiar with the matter. The billionaire, who is Twitter's second-largest shareholder with a 9.1% stake, plans to launch a takeover bid in about 10 days and has tapped Morgan Stanley to arrange another $10 billion in debt, according to this same NYP. Musk, who is also the chief executive of Tesla Inc, might also be willing to borrow against his current stake if needed, a decision that could potentially bring in several billion more dollars, adds to the New York Post. Recall that Twitter adopted a "poison pill" last week to protect itself from Musk's $43 billion takeover bid.

Private equity firms have also reportedly expressed interest in participating in a deal to acquire Twitter. Thoma Bravo, a technology-focused private equity firm, reportedly reached out to the social media platform last week to explore a competing takeover of Musk's bid. Apollo Global Management Inc would consider ways to fund any deal and would be open to working with Musk or any other bidder, sources told Reuters. Many investors, analysts, and investment bankers expect Twitter's board to reject Musk's offer in the coming days, saying it is inadequate.

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20 April, 2022 10:30

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