Tesla and Space X CEO Elon Musk said he has a
Musk said in a regulatory filing that he was considering making his takeover bid directly to Twitter shareholders rather than to board members who appear to be opposed to the proposed hostile takeover, the report said, adding that Twitter is evaluating Musk’s latest proposal.
The $46.5 billion figure comes with about $25 billion in bank debt from Morgan Stanley, Bank of America and Barclays and half in cash from Musk, the world’s richest man. Musk has been in talks with potential equity partners about joining his group, the report said.
Twitter was trading well below the $54.20 per share offer Musk made for the social media company, but board members still expect to reject Musk’s offer in the next few days, according to the report.
Musk first attempted to buy Twitter in 2018, but he didn’t have the funding to complete the deal. He said Thursday he was considering a takeover bid that would bypass the board and put the decision in the hands of shareholders.
Last week, Twitter’s board of directors passed a poison pill mechanism that prevents Musk from buying more than 15% of the company by offering other investors cheap shares that dilute his stake.
Musk, who has more than 82 million Twitter followers, is the company’s largest single investor with more than 9%.
Related: Yahoo owner Apollo Global Eyes bids for Twitter
Earlier this week, WSJ reported that buyout firm Apollo Global Management, which owns Yahoo, is considering participating in a bid for Twitter, noting that it has been in talks to support a potential deal for Twitter.
Twitter will announce the results on April 28th.
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