Elon Musk Unveils $46 Billion Financing Package to Fund Twitter Takeover – He’s Serious
One week ago Elon Musk announced that he was making an offer to purchase Twitter at a generous price. Today he’s provided how he will finance the venture.
Elon Musk shared last week his desire to purchase failing Twitter. He wants to transform it into a private company.
Musk shared that it wasn’t about making money. He looked at purchasing Twitter rather as a means to push free and fair dialog across the masses. He sees this as more important than making money.
Elon Musk has put together a funding package to purchase Twitter and make the Big Tech platform private.
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Elon Musk confirmed in a Thursday filing that he was “exploring whether to commence a tender offer” for Twitter Inc. and said that he has received funding commitments to help him do so.
The Tesla Inc. chief has been teasing the possibility that he would launch a tender offer for Twitter in some recent lyrical and literary tweets, amid a bitter battle with the company’s management team over ownership of the social-media platform. Thursday’s filing formally confirmed that interest, and offered new details about funding commitments from Morgan Stanley that Musk said he had lined up.
The financing was disclosed in an SEC filing Thursday. According to Musk’s filing, the financing includes commitments from Morgan Stanley and other financial institutions. Musk has not yet decided whether he will make a tender offer for Twitter (to buy shares directly from existing investors); he may take other steps to further the proposed takeover, per the filing.