Elon Musk secures $46.5bn to fund possible hostile bid for Twitter
by Dan Milmo from Technology | The Guardian on (#5YDDM)
Tesla CEO is putting $21bn of his own money in the package, according to US watchdog filing
Elon Musk has secured $46.5bn (35.6bn) in financing to fund a possible hostile bid for Twitter and is putting up $21bn of his own money as part of the package.
On top of that equity, Musk is raising a further $12.5bn for the offer via a margin loan secured against his shares in Tesla, the electric carmaker that he runs as CEO. Morgan Stanley, the US investment bank, is leading a group of financial institutions providing $13bn in debt financing.
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