Elon Musk intends to invest between $ 10 billion to $ 15 billion of his money to take Twitter Inc privately, citing two sources familiar with the matter.
The millionaire, who is the second largest on Twitter with a 9.1% stake, plans to launch a tender within 10 days and has approached Morgan Stanley to raise another $ 10 billion debt, according to a report.
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Twitter needs to close a deal with Elon Musk:
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Shares of Twitter Inc. acquired Monday after a communications company launched a self-defense pill to prevent Elon Musk's unsolicited bid to take the company privately to $ 54.20 a share. The security installation on Monday confirmed the Twitter protection strategy unveiled last week, which will allow the company to issue new stock all shareholders except Musk can buy at a discounted price. It im...
Musk, who is also CEO of Tesla Inc, could also be willing to borrow from his stake if necessary, a move that could raise billions more dollars, reports The New York Post.
Twitter declined to comment. Tesla did not immediately respond to Grizler request for Musk's comment.
The social media company adopted a "poison pill" last week to protect itself from Musk's $ 43 billion acquisition.
Many private companies have expressed interest in participating in the Twitter agreement, people familiar with the matter told Reuters on Monday without naming the company.
The interest emerged after Thomas Bravo, a technology-based PE company, contacted social media last week to consider a potential buy that would challenge Musk's application.
Apollo Global Management Inc is considering ways in which I can provide financial support for any contract and is open to working with Musk and any other applicant, sources told Reuters.
Many investors, analysts and investment banks expect the Twitter board to reject Musk's offer in the coming days, saying it is not enough.
Twitter shares were 1.6% lower at $ 47.69 in the afternoon trading, below Musk's $ 54.20 offer.
