A request with US regulators showed today, Thursday, that Elon Musk has secured a funding commitment worth 46.5 billion dollars to acquire Twitter, and is planning to start a tender offer for its existing shares, according to Archyde.com.
Musk offered to buy all of Twitter for $43 billion, prompting its board of directors to adopt a “poisonous pill” policy to limit Musk’s ability to increase his stake in the social media platform.
Morgan Stanley, which Musk has chosen to manage his side of the potential deal, is inviting banks and other potential investors to support offer financingaccording to the New York Times, citing four sources.
One of the sources said that Musk is focusing primarily on raising debt financing and has not yet begun seeking equity financing for his existing offering.
Two sources revealed that Musk is evaluating various debt packages, including more large debt known as “preferred debt”, as well as a loan against his Tesla stock.
It was also said that Apollo Global Management, a private equity firm, was considering being among the parties considering debt financing for the Twitter deal.