Elon Musk has secured a $46.5 billion financing commitment to acquire Twitter Inc.
By Dr. Rich Swier
JUST IN: Elon Musk has secured a $46.5 billion financing commitment to acquire Twitter Inc and is considering starting a tender offer for its outstanding shares, a filing with U.S. regulators showed.
— Shaun Kraisman (@ShaunKraisman) April 21, 2022
Elon Musk has secured $46.5 billion in financing to fund his Twitter takeover bid, according to a Thursday regulatory filing.
The Tesla tycoon is also considering mounting a tender offer — which would involve trying to buy up stock from existing shareholders at $54.20 per share — in order to grow his stake in Twitter, the filing shows.
Twitter rose 0.6% on the news to $46.98 but remain well below Musk’s proposed takeover price of $54.20, indicating that investors are still skeptical that the deal will go through.
“He’s making the offer and it’s not conditioned on financing or business due diligence,” a hedge fund manager reviewing the situation told The Post, adding that he was surprised at the speed Musk’s dealmaking team is moving.
©Dr. Rich Swier. All rights reserved.
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