Musk Secures Funding for Twitter Buyout

April 18 - 22, 2022
 

GetSmart: America's fastest growing sport

p.s. one dollar from each subscriber would do wonders. The value of a succinct summary of the news is worth at least that, ay? donate $1 today.

NewsBites

Elon Musk has lined up the $45B needed to fund his offer to buy Twitter. According to an SEC filing on Wednesday, Morgan Stanley and various other banks have committed more than $25B in loans to fund the acquisition. Musk would have to provide the rest in cash. Twitter’s board of directors issued a statement on Thursday that they’re reviewing the latest proposal. If the board rejects the offer, Musk is also exploring going to Twitter shareholders directly, which would involve making a tender offer to buy their shares. However, Twitter’s board has adopted a “poison pill,” which makes it more difficult for Musk to accumulate shares from other stockholders.

More: In his offer letter to Twitter, Musk wrote, “I invested in Twitter as I believe in its potential to be the platform fo…