Twitter takeover: Elon Musk secures $46.5bn to buy Twitter in hostile bid
Elon Musk-Twitter
Tesla CEO Elon Musk has obtained $46.5 billion in funding for the purchase of Twitter Inc. and is exploring a tender offer for its shares.
Musk has pledged to invest $33.5 billion in the transaction, with $21 billion in cash and $12.5 billion in margin loans.
The deal's structure was revealed today in documents filed with the Securities and Exchange Commission.
According to the statement, Musk was "exploring whether to start a tender offer... but has not determined whether to do so at this time."
According to the petition, banks such as Morgan Stanley have agreed to contribute an additional $13 billion in debt secured against Twitter.
The fresh filings come a week after Elon Musk, the Tesla CEO, launched a $43 billion bid for Twitter after declining a seat on its board.
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A representative from Twitter could not be reached for comment right away.
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