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Elon Musk Secures $46.5 Billion to Finance Ambitious Bid for Twitter

Elon Musk Secures $46.5 Billion to Finance Ambitious Bid for Twitter

  • Elon Musk disclosed in a filing on Thursday that he has secured $46.5 billion in financing to complete the takeover of Twitter
  • The billionaire’s filing revealed that Morgan Stanley is prepared to lend him $25.5 billion to complete the deal
  • This comes after the Tesla boss made an offer of $43 billion for the social media company in a hostile takeover attempt earlier this month

Tesla CEO, Elon Musk released a filing on Thursday disclosing that he has secured $46.5 billion in financing to complete the acquisition of Twitter.

Elon Musk

The filing shows that the funding was supported by a group of banks including Morgan Stanley, and $25.5 billion was lent to Musk.

The Tesla boss also secured a separate $12.5 billion loan pledged to the value of the electric car company’s shares. As a part of this deal, Musk will provide $21 billion in equity financing.

This renewed bid comes after a $43 billion hostile takeover attempt that the billionaire made for the social media platform earlier this month had failed. To prevent the takeover, Twitter’s board adopted a “poison pill” provision that would make the acquisition of the company significantly more expensive.

Elon Musk revealed on Thursday that he is now exploring a more tender offer that will help him acquire all the shares of the company from current stockholders.

At the moment, the world’s richest man is the largest individual shareholder in Twitter, with more than a 9% stake in the company.

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