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Homechevron_rightTechnologychevron_rightTwitter bid secures...
Technology
Posted On
date_range 21 April 2022 10:13 PM IST
Updated On
date_range 21 April 2022 10:26 PM IST

Twitter bid secures $46.5 billion funding from Elon Musk

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Twitter 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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