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 say how he would finance the acquisition.
The Tesla CEO says Thursday in documents filed with US 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.
For the latest headlines, follow our Google News channel online or via the app.
Under a tender offer Musk, who owns about 9 percent 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 say Twitter has not responded to Musk’s proposal.
Last week Twitter’s board adopted a “poison pill” defense that could make a takeover attempt prohibitively expensive.
The filing states that “entities related to [Musk] have received commitment letters committing to provide an aggregate of approximately $46.5 billion.”
Read more:
Elon Musk tweets cryptic phrase days after Twitter takeover offer
Russia fines Google over ‘fakes’, far-right Ukraine content
Egypt signs agreement with UAE’s AMEA Power for 390,000 tons of green ammonia
