Elon Musk is serious about that offer.
The richest man in the world is moving ahead with his potential bid to own Twitter, revealing that he has $46.5 billion in financing for a possible tender offer, via Variety.
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The financing was disclosed in an SEC filing his week, including commitments from Morgan Stanley and other financial institutions.
Elon “is exploring whether to commence a tender offer to acquire all of the outstanding shares of [Twitter’s] Common Stock” for $54.20 per share, “but has not determined whether to do so at this time,” via the filing.
Last week, Twitter put a “poison pill” plan into place to avoid a potential takeover, which is designed to stop any individual or entity from taking over more than a 15% stake in the company by buying shares on the open market.
He is now weighing whether to move forward with a tender offer for Twitter “given the lack of response by Twitter” to his previous buyout offer, via the filing.
Find out more about the reason why he wants to own Twitter.
Source: Showbiz PH Insider
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