As per the news, Elon Musk has obtained $46.5 billion in funds to purchase Twitter Inc and is touring a tender offer for its shares. Elon has pledged to put money into the transaction of $33.5 billion, which includes the $12.5 billion in the sort of margin loans and $21 billion in equity.
In the petition, banks, which includes Morgan Stanley, have acknowledged contributing another $13 billion in loans secured against Twitter. Twitter did not respond to a request for comments yet.
Without saying anything to Elon’s words, Twitter implemented a “poison pill” to derail the billionaire’s attempt to buy the social media network for the amount of $43 billion.
Musk, who is merely known as the scientist and a philanthropist has also revealed for the Twitter to develop and become a platform for free speech, it ceased to exist in private.
One of the major report believed Musk’s bid had piqued some of the private equity interest in collaborating in a Twitter purchase, citing people familiar with the situation.
Apollo Global Management Inc is looking ahead to fund any acquisition and is willing to operate with Musk or any other bidder, while Thoma Bravo has said on Twitter that it is looking into assembling a proposal.
Musk, with more than 80 million followers on Twitter, has made various announcements on the platform, some of which have gotten him into trouble with US regulators.
In the year 2018, Musk stated, “funding secured” to take Tesla Inc private for $420 per share, resulting in millions of dollars in fines and his forced resignation as chairman of the electric car company to settle claims from the US Securities and Exchange Commission.