(Reuters) – Tesla chief executive Elon Musk has secured $46.5 billion (42.7 billion euros) in funding commitments to buy Twitter and plans to launch a takeover bid on the outstanding securities of the social network, shows Thursday a document filed with the regulatory authorities.
Of this amount, $33.5 billion represents funds provided personally by the automaker’s boss, including $21 billion in equity and $12.5 billion in loans, while the participation of banks, including Morgan Stanley, is $13 billion.
The American billionaire of South African origin, second shareholder of Twitter with a stake of 9.1%, offered on April 14 to acquire his target for 43 billion dollars, explaining that the social network should be withdrawn from the Scholarship to be able to relaunch its growth and become a platform dedicated to freedom of expression.
This offer, perceived as hostile, led Twitter to set up a so-called “poison pill” mechanism, which allows shareholders to exercise their rights if an investor acquires 15% or more of the group’s shares in an operation that does not would not have been previously approved by the board of directors.
Since investment fund Thoma Bravo LP contacted Twitter last week to explore an alternative offer to Elon Musk’s, several private equity firms have also shown interest in the social network.
(Report Nivedita Balu in Bangalore; French version Claude Chendjou, edited by Sophie Louet)
Copyright © 2022 Thomson Reuters
Are you following this action?
Receive all the information on TWITTER in real time: