Elon Musk lays out funding for ambitious Twitter takeover
by Jon Porter from The Verge - All Posts on (#5YDCD)
Illustration by Kristen Radtke / The Verge; Getty Images Elon Musk has lined up the funding he needs for his proposed takeover of Twitter. In a new filing with the US Securities and Exchange Commission on Thursday, Musk laid out his plan for the $46.5 billion worth of loans that will allow him to finance the buyout offer made on April 14th.
The funding is provided through two debt commitment letters from Morgan Stanley Senior Funding, in which the bank commits to offering a series of loans worth $25.5 billion. The remaining $21 billion will be covered by Musk himself.
Notably, the filing does not list any equity partners to share the cash burden with Musk. The Tesla CEO already owns a 9 percent stake in Twitter, valued at roughly $2.9 billion.
The Reporting Person is seeking to negotiate a...