Elon Musk on Thursday said he has lined up $46.5 billion in debt and equity financing to buy Twitter and is considering taking his offer directly to shareholders, a filing with US regulators showed.
Musk himself has committed to put up $33.5 billion, which will include $21 billion of equity and $12.5 billion of margin loans against some of his Tesla shares to finance the transaction. He is chief executive officer of electric vehicle maker Tesla.
Musk, the world’s richest person according to a tally by Forbes, on April 14 presented a “best and final” cash offer of $43 billion to Twitter’s board of directors, saying the social media company needs to be taken private to grow and become a platform for free speech.
But Twitter failed to respond to his offer and adopted a “poison pill” to thwart him.
Musk, Twitter’s second-largest shareholder with a 9.1% stake, has said that he could make big changes at the micro-blogging company, where he has a following of more than 80 million users.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Microsoft Faces EU Antitrust Charges Over Teams Software
May 13, 2024 by
CPI
EU Antitrust Complaint Filed Against Edwards Lifesciences by Indian Rival Meril
May 13, 2024 by
CPI
South Korea’s Antitrust Watchdog Partners with AliExpress and Temu to Address Safety Concerns
May 13, 2024 by
CPI
EU Designates Booking.com as ‘Gatekeeper’ Under Digital Markets Act
May 13, 2024 by
CPI
US Airlines Challenge Biden Administration Over New Airfare Fee Disclosure Rule
May 13, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI