Musk secures $46.5 bln financing dedication for Twitter, explores tender provide

Tesla CEO Elon Musk speaks at an occasion in Hawthorne, California April 30, 2015. REUTERS/Patrick T. Fallon/File Picture

Elon Musk has secured a funding dedication of $46.5 billion to purchase Twitter Inc and is planning to start out a young provide for its shares, a submitting with U.S. regulators confirmed on Thursday.

Musk himself has dedicated to place up $33.5 billion, which can embody $21 billion of fairness and $12.5 billion of margin loans, to finance the transaction.

Banks, together with Morgan Stanley, have agreed to offer one other $13 billion in debt secured in opposition to Twitter itself, in keeping with the submitting.

Musk, Twitter’s second-largest shareholder, has supplied to purchase the corporate for $43 billion that has prompted Twitter to undertake a “poison tablet” to restrict Musk’s capacity to lift his stake within the social media platform. 

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