Elon Musk is serious about that offer.
The richest man in the world is moving ahead with his potential bid to own Twitter, revealing that he has $46.5 billion in financing for a possible tender offer, via Variety.
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The financing was disclosed in an SEC filing his week, including commitments from Morgan Stanley and other financial institutions.
Elon “is exploring whether to commence a tender offer to acquire all of the outstanding shares of [Twitter’s] Common Stock” for $54.20 per share, “but has not determined whether to do so at this time,” via the filing.
Last week, Twitter put a “poison pill” plan into place to avoid a potential takeover, which is designed to stop any individual or entity from taking over more than a 15% stake in the company by buying shares on the open market.
He is now weighing whether to move forward with a tender offer for Twitter “given the lack of response by Twitter” to his previous buyout offer, via the filing.
