May 18, 2022

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Musk to explore a potential bidding bid for Twitter, has $46.5 billion in funding committed for the deal

Musk to explore a potential bidding bid for Twitter, has $46.5 billion in funding committed for the deal

Tesla and SpaceX CEO Elon Musk at Tesla’s “Gigafactory” on March 22, 2022 in Gruenheide, southeast of Berlin.

Patrick Balloul | AFP | Getty Images

Elon Musk is exploring whether to start bidding for Twitteraccording to Deposit of new securities.

In an updated filing published Thursday, Musk said that due to the lack of response from Twitter’s board of directors, he is now exploring a tender offer to buy some or all of the company’s shares directly from its shareholders. The filing says that Musk has received $46.5 billion in commitments to help fund the potential deal.

Musk has not yet decided he will submit a bid to Twitter or whether he will take other steps to advance the proposal, according to the filing.

Last week, musk Offered to buy Twitter $54.20 per share, or about $43 billion. Friday, Twitter Limited time shareholder equity plan approvedoften referred to as a “toxic pill”, in an effort to stave off a potential hostile takeover.

Musk, a CEO of Tesla And SpaceX, in recent weeks More than 9% of the quota In the company. Twitter then made an offer for Musk to join the board of directors, but only on the condition that Musk could buy no more than 14.9% of the company. musk reverse path Instead, he made an offer to make Twitter private.

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