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The Water Cooler
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Musk offers to buy Twitter in cash....
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<blockquote data-quote="SlugSlinger" data-source="post: 3767222" data-attributes="member: 7248"><p>Elon Musk Secures $46.5 Bn In Funding For Twitter Bid; Says Negotiation Of Deal Underway</p><p></p><p>Tesla CEO Elon Musk claims to have secured $46.5 billion in finance to purchase Twitter and is in the process of negotiating a deal with the firm.</p><p></p><p></p><p>Tesla Inc Chief Executive Officer (CEO) Elon Musk claims to have secured $46.5 billion in funding to purchase Twitter and is in the process of negotiating a deal with the firm. Musk made an offer to buy the social networking company for $54.20 per share, or $43 billion, last week. However, he did not explain how he planned to fund the purchase at the time, The Associated Press (AP) reported. In documents filed with US securities authorities, the Tesla CEO said he is considering a tender offer to buy all of the social media platform's common stock for $54.20 per share in cash.</p><p></p><p>Musk, who owns roughly 9% of the Twitter stock, would make a tender offer to other shareholders instead of going via the board. According to a new SEC filing, Morgan Stanley would lend over $20 billion in various loans to Musk. Meanwhile, a total of $21 billion will be raised through stock financing, Forbes reported. Musk hasn't made a formal tender offer for Twitter yet, but now that he's revealed additional specifics about how he'd fund a purchase, it could happen soon.</p><p></p><p>Musk is yet to hear from Twitter about his proposed deal</p><p>As per the Forbes report, Musk's fortune is estimated to be worth over $260 billion, but nearly all of it is invested in Tesla stock and other illiquid assets. To make the deal work, he will need to borrow money and maybe sell Tesla stock, the report added. Since going public with his $54.20 a share proposal a week ago, Musk claims he has not heard from the Twitter board. While Musk has retained the services of Morgan Stanley, Twitter has retained Goldman Sachs and JPMorgan.</p><p></p><p>READ | Elon Musk puts up opinion poll to ask shareholders to decide on his Twitter bid</p><p>Musk purchased a huge 9.2% stake in Twitter this month</p><p>Except for Musk, no one is mentioned in the SEC filing, according to Forbes. A number of Wall Street firms, including Apollo and Thoma Bravo, were said to be interested in participating in the financing for the Twitter deal. However, they don't appear to be interested in joining Musk in his bid for Twitter. It is worth mentioning here that Musk purchased a massive 9.2% stake in Twitter Inc. on Monday, April 4. This came weeks after the billionaire criticised the micro-blogging site for compromising on free speech and had flaunted the idea of launching his social media.</p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3767222, member: 7248"] Elon Musk Secures $46.5 Bn In Funding For Twitter Bid; Says Negotiation Of Deal Underway Tesla CEO Elon Musk claims to have secured $46.5 billion in finance to purchase Twitter and is in the process of negotiating a deal with the firm. Tesla Inc Chief Executive Officer (CEO) Elon Musk claims to have secured $46.5 billion in funding to purchase Twitter and is in the process of negotiating a deal with the firm. Musk made an offer to buy the social networking company for $54.20 per share, or $43 billion, last week. However, he did not explain how he planned to fund the purchase at the time, The Associated Press (AP) reported. In documents filed with US securities authorities, the Tesla CEO said he is considering a tender offer to buy all of the social media platform's common stock for $54.20 per share in cash. Musk, who owns roughly 9% of the Twitter stock, would make a tender offer to other shareholders instead of going via the board. According to a new SEC filing, Morgan Stanley would lend over $20 billion in various loans to Musk. Meanwhile, a total of $21 billion will be raised through stock financing, Forbes reported. Musk hasn't made a formal tender offer for Twitter yet, but now that he's revealed additional specifics about how he'd fund a purchase, it could happen soon. Musk is yet to hear from Twitter about his proposed deal As per the Forbes report, Musk's fortune is estimated to be worth over $260 billion, but nearly all of it is invested in Tesla stock and other illiquid assets. To make the deal work, he will need to borrow money and maybe sell Tesla stock, the report added. Since going public with his $54.20 a share proposal a week ago, Musk claims he has not heard from the Twitter board. While Musk has retained the services of Morgan Stanley, Twitter has retained Goldman Sachs and JPMorgan. READ | Elon Musk puts up opinion poll to ask shareholders to decide on his Twitter bid Musk purchased a huge 9.2% stake in Twitter this month Except for Musk, no one is mentioned in the SEC filing, according to Forbes. A number of Wall Street firms, including Apollo and Thoma Bravo, were said to be interested in participating in the financing for the Twitter deal. However, they don't appear to be interested in joining Musk in his bid for Twitter. It is worth mentioning here that Musk purchased a massive 9.2% stake in Twitter Inc. on Monday, April 4. This came weeks after the billionaire criticised the micro-blogging site for compromising on free speech and had flaunted the idea of launching his social media. [/QUOTE]
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