Elon Musk willing to take Twitter private with own money

According to a report from the New York Post, Elon Musk is willing to invest between $10 billion and $15 billion of his own money to take Twitter Inc private.

Musk, Twitter’s second-biggest shareholder, has a 9.1% stake in the company. He plans on launching a tender offer in around 10 days and has tapped Morgan Stanley to raise another $10 billion in debt, states the report.

Musk could also be willing to borrow against his current stake, if necessary, said the report; the move that could raise several billion additional dollars.

Twitter declined comment.

Last week, Twitter adopted a “poison pill” to protect itself from Musk’s $43 billion buyout offer.

Following Musk’s offer, many private-equity firms have expressed interest in participating in a deal for Twitter, said sources familiar with the matter at hand.

Last week, Thoma Bravo, a technology-focused PE firm, had contacted Tweeter to explore a buyout that would challenge Musk’s offer.

According to sources, Apollo Global Management Inc, is considering ways to provide financing to any potential upcoming deal regardless of the bidder.

Analysts, investors and investment bankers expect Twitter’s board to reject Musk’s offer in the coming days, saying it undervalues the company.

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

Tags: , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: