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Musk secures USD 46.5 bn in funding for Twitter bid

On Thursday Elon Musk said he has lined up USD 46.5 billion in debt and equity financing to buy social network company Twitter Inc. and was considering taking his offer directly to shareholders, a filing with US regulators showed.

Musk himself has committed to put up USD 33.5 billion, which will include USD 21 billion of equity and USD 12.5 billion of margin loans against some of his Tesla Inc. shares to finance the transaction.

Twitter was not immediately available for comment.

Musk’s latest move comes after Twitter failed to respond to his offer and adopted a “poison pill” to reduce his stake, as the company considers him an unwelcome bidder.

A self-described “free speech absolutist,” Musk, has said that the social media company needs to be taken private to grow and become a platform for free speech. As Twitter’s second-largest shareholder with a 9.1 percent stake, he could make big changes at the micro-blogging company, where he has a following of more than 80 million users.


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