Elon Musk stated that he has provided $ 46.5 Billion in financing for the purchase Twitter. He is now trying to negotiate an agreement.
Musk made an offer last week to buy the social media company at $ 54.20 per shares, or $ 43 billion. Musk did not specify how he would finance this purchase.
In documents filed to U.S. regulators, Tesla CEO stated Thursday that he was considering a takeover bid to purchase all shares of the social media site for $ 54.20 per share in cash. Musk, which holds about 9 percent Twitter shares, will offer his offer directly to other shareholders and bypass the board under a takeover bid.
Musk isn’t sure yet.
According to the documents, Musk’s offer to Twitter from San Francisco was not accepted by Twitter.
Twitter’s board adopted last week a “poison pills” protection which could lead to an unusual takeover attempt.
The submission stated that “entities related to (Musk),” have received letters of commitment committing to provide $ 46.5 billion in total.
Morgan Stanley and financial institutions will finance the funding. Musk shares in Tesla, maker of solar panels and electric cars, will secure some.
Musk “seeks a final agreement for Twitter purchase… and is ready start such negotiations immediately,” said the documents.
Musk will seek to persuade other shareholders to pledge their shares for him at a specified price by a given date. Musk will use the takeover bid to get enough shareholders to agree to lower protection for poison pills.
Musk indicated the possibility of a takeover bid this week on Twitter several times using the term “tender”