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Posted On
date_range 21 April 2022 10:13 PM IST Updated On
date_range 21 April 2022 10:26 PM ISTTwitter bid secures $46.5 billion funding from Elon Musk
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On Thursday, a filing with US regulators showed that Musk has secured a $46.5 billion funding commitment for the purchase of Twitter Inc. He plans on launching a tender offer for the firm's shares.
Mr Musk has committed to putting up $33.5 billion in equity and margin loans, totalling $21 billion.
Several banks, including Morgan Stanley, have agreed to lend Twitter another $13 billion in debt.
Founder and CEO of Tesla, Elon Musk, is Twitter's second-largest shareholder. Musk recently made an offer to buy the company for $43 billion that caused Twitter to adopt a "poison pill" to limit Mr Musk's ability to increase Twitter's stake.
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