As per the report of Futurism.com, SpaceX and Tesla CEO Elon Musk claims to have obtained $46.5 billion in funding to buy Twitter, based on a new filing with the Securities and Exchange Commission (SEC).
NPR, citing the filing, mentioned that Morgan Stanley, Bank of America, and many other banks have agreed to finance $25.5 billion, backed in part by some of Musk's Tesla shares.
Musk claims he will cover the remaining $21 billion alone. It was noted that the majority of his fortune is invested in Tesla and SpaceX.
Futurism.com further reported that it's still uncertain whether Musk will be able to persuade Twitter's board with a detailed plan. Given that Musk's offer has previously been dismissed by a number of major shareholders, the company is unlikely to simply cave in and hand over the keys.
But according to NPR, Musk also stated in fis filing that Twitter has yet to reply to his unsolicited offer. The filing read that he "is seeking to negotiate a definitive agreement for the acquisition of Twitter," and "is prepared to begin such negotiations immediately."
Read More: Elon Musk "Not Sure" About Twitter Takeover - But He Has a Plan B
Is There a Way For Twitter to Avoid an Elon MuskTakeover?
According to Business Insider, Dan Ives of investment firm Wedbush said that a white knight - an investor who saves a company from a hostile acquisition by acquiring it at the last minute - could be Twitter's last chance of avoiding Musk's purchase proposal. The report cited Fortune.
PayPal, Oracle, and Elliott Investment Management, a hedge fund and Twitter shareholder, were all mentioned in the same article as prospective white knights for Twitter.
Separately, on April 14, billionaire investor Mark Cuban tweeted his speculation companies were likely considering ways to acquire Twitter without breaking antitrust regulations.
Every major tech company , Google, fb, et al is on the phone with their anti trust lawyers asking if they can buy Twitter and get it approved. And Twitter is on the phone with their lawyers asking which can be their white knight. Gonna be interesting https://t.co/khCVPzuGiM
— Mark Cuban (@mcuban) April 14, 2022
Twitter has yet to respond to Musk's offer to buy the social media platform for $54.20 per share. However, the report cited The Wall Street Journal which said that the company would most likely reject the proposal within the next week.
Elon Musk and Twitter's Relationship Thus Far
As previously reported, Musk became Twitter's biggest shareholder. The billionaire CEO owns 9.2% of Twitter, which is reportedly to have been "purchased on March 14 and is described to be a passive stake." Another report mentioned that Twitter CEO Parag Agrawal tweeted on April 10 that Musk will not be joining Twitter's board. The announcement comes only days after Musk revealed that he had purchased a 9.2% stake in the company.
Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here. pic.twitter.com/lfrXACavvk
— Parag Agrawal (@paraga) April 11, 2022
After a few days, another report surfaced saying, "Musk offered to buy Twitter for $41.3 billion (some reports say $43 billion)."
And as for the latest development thus far, the SEC filing dated April 20 said that SpaceX and Tesla CEO claims to have secured $46.5 billion in funding to purchase Twitter.
Related Article: Musk Offers To Buy Twitter - Will Jack Dorsey Approve? How Much Is Twitter Worth?
