Elon might just pull this off!
By ARJUN SINGH
April 21, 2022 11:09 AM
Elon Musk has announced Thursday that he has secured the funding necessary to acquire Twitter.
The Tesla and SpaceX CEO, who initially submitted a $43 billion bid to purchase the company at $54.20 per share, stated that he had partnered with private equity firm Morgan Stanley to fund his purchase. The new deal would be valued at $46.5 billion.
Musk stated that he would personally provide $21 billion, financed through equity in his own name. Morgan Stanley, meanwhile, would finance $13 billion through debt facilities, as well as $12.5 billion in marginal loans. Musk said he had received commitment letters from Morgan Stanley for both these offers.
Per the current process, Musk’s new bid with Morgan Stanley would have to be approved by a vote of all shareholders in collaboration with the board. Earlier this week, sources in the company told reporters that Twitter planned to reject Musk’s initial bid on April 28.
https://www.nationalreview.com/news/elon-musk-announces-new-funding-to-buy-twitter/