Tesla CEO Elon Musk is willing to invest up to $15 billion of his own cash to take Twitter private and will make a bid within 10 days, according to Tuesday reports.
reported
Musk’s massive $43 billion bid to purchase the company – or $54.20 per share – may require borrowing against both the company and his stock in addition to raising money from private equity investors, The Post reported, citing two sources close to the situation. Musk will launch the tender officer within roughly 10 days, according to The Post. It remains to be seen how successful Musk will be in raising the necessary cash, as his propensity for controversy has turned off some investors. Last week, Twitter adopted a measure known as a "poison pill," which refers to a tactic that companies employ to block an investor from accumulating a majority stake in a company.
Twitter is leaving open the possibility of negotiating with Musk or another suitor. In a regulator filing on Monday, Twitter’s board says the shareholder rights agreement should not interfere with any merger or offer approved by the board.
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