HomeBusinessTwitter Considering Elon Musk's Recent Bid After Tesla CEO Secures Financing

Twitter Considering Elon Musk’s Recent Bid After Tesla CEO Secures Financing

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Despite Twitter initially wanting nothing to do with Elon Musk taking the big tech giant private, the company is reportedly warming up to the idea after the Tesla CEO said last week he had secured the necessary $43 billion in funding.

According to Fox News, sources familiar with the matter told The Wall Street Journal that Twitter is taking another look at the deal and may be closer to negotiating, given how quickly Musk was able to secure financing.

Musk announced an offer last week to buy the social media platform for $54.20 per share but did not say how he would finance the acquisition.

Musk said Thursday in documents filed with U.S. securities regulators that the money would come from Morgan Stanley and other banks, some of it secured by his huge stake in the electric carmaker.

The company said in a statement Thursday that it received Musk’s updated proposal and “new information on potential financing” and said its board is “committed to conducting a careful, comprehensive and deliberate review.”

Other banks involved in Musk’s financing include Barclays, Bank of America, Societe Generale, Mizuho Bank, BNP Paribas and MUFG. Morgan Stanley is one of Twitter’s biggest shareholders, behind Vanguard Group and Musk.


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