Friday, March 31, 2023
HomeNewsCHECKMATE: Elon Musk Secures $46.5 Billion To Fund A Possible Hostile Twitter...

CHECKMATE: Elon Musk Secures $46.5 Billion To Fund A Possible Hostile Twitter Bid

Published on

Guess Elon Musk had a Plan B all along, and it looks like he just pulled the trigger on it. Musk has secured $ 46.5 billion (£ 35.6 billion) to fund a possible hostile bid for Twitter and is putting $ 21 billion of his money as part of the package.

In addition to these shares, Musk is raising another $ 12.5 billion for the offer through a secured margin loan with his shares in Tesla, the electric car manufacturer he runs as CEO. Morgan Stanley, a US investment bank, leads a group of financial institutions that provide $ 13 billion in debt financing.

The financing commitments were presented on Thursday in a file addressed to the US financial supervision body, the Securities and Exchange Commission. The document confirmed that the richest man in the world is “examining whether to start a bidding” for the shares on Twitter that he does not own. Musk already owns 9.2% of the social media platform and announced a $ 54.20 per share offer last week.

Last week, Musk offered to buy Twitter for $54.20 a share, or about $43 billion. On Friday, Twitter adopted a limited duration shareholder rights plan, often referred to as a “poison pill,” in an effort to fend off a potential hostile takeover.

Twitter then extended an offer to Musk to join the board, but on the condition that he couldn’t buy more than 14.9% of the firm. Musk reversed course and instead made a bid to take Twitter private.

Latest articles

Pennsylvania Resident Charged With Threatening To Kill Biden, Trump

A Somali man residing in Pennsylvania has been indicted for threatening to kill President Joe Biden and former President Donald Trump.

OUCH! Mike Tyson Pummels Man In The Face Onboard A Jet Blue Flight

Mike Tyson loses it onboard a JetBlue flight after being antagonized by an obnoxious passenger and ends up pummeling him in the face.

Black American Murders Spike, Biden Gets His A$$ Kicked, Trump, Russia, And More!

Black American murders spike 30% in 2020, Joe Biden gets his ass kicked by a federal judge, Russia, Trump, and more!

More like this

Kayleigh McEnany, Trump’s Former Press Secretary Joins Fox News!

Harris Faulkner, from Fox News, informed viewers on Tuesday during an exclusive interview with McEnany that Kayleigh will be joining Fox.