Elon Musk pledged $ 46.5 billion in financial commitments to buy Twitter and said he is considering an offer, or is going to management to direct the offer directly to shareholders, “but has not decided whether do it this time “.
He told the SEC Thursday that Twitter had not yet responded to its offer to buy the company for $ 54.20 per share, or about $ 43 billion. The social media company has adopted a poisonous pill or shareholder rights plan that would make it more difficult to catch a hostile person.
Musk said he has three letters of commitment at his disposal to fund all transactions on April 20. The two letters of debt come from Morgan Stanley and other financial institutions, for $ 13 billion and $ 12.5 billion, respectively. Muskie’s patrimonial liability to cover funds unfunded by these two is expected to be approximately $ 21 billion.
Musk made the offer on Twitter on April 13, after amassing a 9.1% stake in the company and playing on its board of directors for the first time. Tesla’s CEO is an avid user of the platform, but said he wants him to have less control over the content and leave it as a characteristic “town square”.
Its net worth is the highest in the world, but its assets are largely invested in Tesla, SpaceX and its other companies, which leads to speculation that it may have difficulty financing its acquisition. Today’s SEC filing tries to complete this.
Twitter said it was considering its offer. The shares rose slightly on the news and traded at $ 47.20 today, up just over 1% from the close on Wednesday.
Source: Deadline
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