Musk says he has $46.5 billion in financing ready to buy Twitter
The Hindu
Twitter said in a statement on Thursday that it has received Musk’s updated proposal and its “new information on potential financing.”
Elon Musk says he has lined up $46.5 billion in financing to buy Twitter, and he's trying to negotiate an agreement with the company.
Last week, Musk announced an offer to buy the social media company for $54.20 per share, or about $43 billion. At the time, he did not say how he would finance the acquisition.
The Tesla CEO said Thursday in documents filed with U.S. securities regulators that he's exploring what's known as a tender offer to buy all of the social media platform's common stock for $54.20 per share in cash. Under a tender offer, Musk, who owns about 9% of Twitter shares, would take his offer directly to other shareholders, bypassing the board.
But Musk hasn't decided yet whether to do that.
The documents filed with the Securities and Exchange Commission say San Francisco-based Twitter Inc. has not responded to Musk's proposal.
Twitter said in a statement Thursday that it has received Musk’s updated proposal and its “new information on potential financing.”
The company said its board is “committed to conducting a careful, comprehensive and deliberate review to determine the course of action that it believes is in the best interest of the company and all Twitter stockholders.”