Elon Musk says he secured $46.5 billion in financing to buy Twitter

Tesla CEO Elon Musk said in a filing Thursday that he has secured $46.5 billion in financing to buy Twitter — mostly with borrowed money.

The filing shows that a group of banks led by Morgan Stanley was ready to lend Musk $25.5 billion, including a separate $12.5 billion loan pledged by the value of Musk’s Tesla stock.

Musk, in turn, will provide $21 billion in equity.

He is currently Twitter’s largest individual shareholder, owning 9% of the company’s shares. After Musk make a suggestion this month to buy Twitter for $43 billion, social media company adopted a “poison drug” provision designed to prevent him from completing a hostile takeover of the company.

To combat the poison pill, the tech mogul also said on Thursday he continues to explore a so-called public bid to buy back all of the social media company’s shares from existing shareholders. in.

Twitter shares rose about 1% on Thursday, to $47 a share.

at Blogtuan.info – Source: nbcnews.com – Read the original article here