Elon Musk Secures $46.5 Billion In Funding For Twitter Bid

Elon Musk Secures .5 Billion In Funding For Twitter Bid


Elon Musk Secures .5 Billion In Funding For Twitter Bid

Elon Musk is Twitter’s second-largest shareholder

Elon Musk has secured a funding commitment of $46.5 billion to buy Twitter Inc and is planning to start 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.

Musk, Twitter’s second-largest shareholder, has offered to buy the company for $43 billion that has prompted Twitter to adopt a “poison pill” to limit Musk’s ability to raise his stake in the social media platform.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)



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