Musk also said in his filing that Twitter has not formally responded to his overtures. He “is seeking to negotiate a definitive agreement for the acquisition of Twitter,” the filing said, “and is prepared to begin such negotiations immediately.”
Elon Musk says he’s secured money for his bid to take Twitter private and is considering making his pitch directly to shareholders.
Musk, who recently became the social media company’s largest individual shareholder, told Twitter’s board last week he wanted to buy the entire company but he didn’t say how he would pay for it.
Now, in a new filing with the Securities and Exchange Commission, the billionaire Tesla CEO says he’s lined up $46.5 billion to fund his offer of $54.20 a share.
Morgan Stanley, Bank of America, and several other banks have promised to lend him $25.5 billion, according to the filing.
Musk, who is the richest person in the world, says he will cover the remaining $21 billion himself. Most of his wealth is tied up in shares of Tesla and SpaceX, the rocket company he also runs.
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