Elon Musk secures $46.5 billion in funding to buy Twitter
India Today
According to officials, Elon Musk secured $46.5 billion in funding for Twitter bid and is considering a tender offer for its shares.
Elon Musk has secured $46.5 billion in funding to buy Twitter Inc and is considering a tender offer for its shares, a filing with US regulators showed on Thursday.
Musk himself has committed to put up $33.5 billion, which will include $21 billion of equity and $12.5 billion of margin loans, to finance the transaction.
Banks, including Morgan Stanley, have agreed to provide another $13 billion in debt secured against Twitter itself, according to the filing.
Twitter was not immediately available for comment.
Musk's latest move comes after Twitter failed to respond to his offer and adopted a "poison pill" to thwart the billionaire's effort to buy the social media platform for $43 billion.
Musk, a self-described "free speech absolutist," has said the social media company needs to be taken private to grow and become a platform for free speech.
The offer from Musk, who is the second-largest shareholder of Twitter, has drawn private equity interest in participating in a deal for Twitter, Reuters reported, citing people familiar with the matter.
