Elon Musk says he has raised $46.5 billion to buy Twitter, and is contemplating shopping for shares immediately from buyers to take management of the social media firm.
In a securities submitting, the Tesla CEO mentioned he raised $22.5 billion from Morgan Stanley Senior Funding to finance the bid, and dedicated to paying for the remaining by promoting fairness.
Musk final week proposed to purchase Twitter for $54 a share, far above the share worth on the time of about $46. However a significant Twitter shareholder, Saudi prince Al Waleed bin Talal, referred to as the supply inadequate, and two days later, Twitter's board adopted a so-called poison tablet to dam Musk's acquisition.
However Twitter has not formally responded to the supply, Musk mentioned within the submitting. "Given the shortage of response by Twitter, [Musk] is exploring whether or not to begin a young supply," the submitting mentioned.
Musk started shopping for Twitter inventory in February and this month turned the corporate's largest shareholder. He goals to take the corporate personal and has mentioned he has no confidence in its present administration.
"Twitter has extraordinary potential. I'll unlock it," Musk mentioned in his supply letter final week.
It is a growing story.