Elon Musk says he has raised $ 46.5 billion to buy Twitter and is considering buying shares directly from investors to take control of the social media company.
In a securities presentation, the CEO of Tesla said he raised $ 22.5 billion from Morgan Stanley Senior Funding to fund the offer and pledged to pay the rest through the sale of capital.
Musk last week proposed to buy Twitter for $ 54 a share, well above the stock price at the time of about $ 46. But a major Twitter shareholder, Saudi Prince Al Waleed bin Talal, described the offer as insufficient, and two days later, the Twitter board adopted the so-called poison pill to block Musk’s acquisition.
But Twitter has not formally responded to the offer, Musk said in the presentation. “Given the lack of response from Twitter, [Musk] is exploring whether to launch a public offering, “the dossier said.
Musk began buying shares of Twitter in February and this month became the company’s maximum shareholder. He intends to take the company private and has said he does not trust its current management.
“Twitter has tremendous potential. I’ll unlock it,” Musk said in his bid letter last week.
This is a developing story.
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