Of course, as this editor was finishing up the other story we wrote about Elon Musk this morning, news of him making a tender offer in an attempt to publicly take over Twitter broke. Awww yes, the joy of covering the crazy that is social media.
And you guys wonder why we all drink so much coffee.
This though … could get real interesting, real fast.
BREAKING: Elon Musk is reportedly set to launch a tender offer in 10 days, attempting to publicly takeover Twitter.
— Watcher.Guru (@WatcherGuru) April 19, 2022
JUST IN: Elon Musk has secured a $46.5 billion financing commitment to acquire Twitter Inc and is considering starting a tender offer for its outstanding shares, a filing with U.S. regulators showed on Thursday. https://t.co/1lBTCSjiof pic.twitter.com/gSFA6Q1HmC
— Newsmax (@newsmax) April 21, 2022
Elon Musk has secured a funding commitment of $46.5 billion to buy Twitter Inc. and is planning to start a tender offer for its shares, a filing with the Securities and Exchange Commission showed on Thursday.
Musk himself has committed to put up $33.5 billion, which will include $21 billion of equity and $12.5 billion of margin loans, to finance the transaction.
Banks, including Morgan Stanley, have agreed to provide another $13 billion in debt secured against Twitter itself, according to the filing.
It’s all HAPPENING.
BREAKING: Elon Musk has
1. $25.5B in financing for Twitter from a group of banks led by Morgan Stanley—includes $12.5B in margin loan against his Tesla shares.
2. The rest of the money ($21 B) is coming out of his own pocket. (SEC filing)
Translation: THIS GUY IS SERIOUS.
— Trish Regan (@trish_regan) April 21, 2022
You may be asking yourself what a ‘tender offer’ means.
Whoohoo for the Internet!
So it begins https://t.co/5PxP3vSa60
— The Brickhouse (@Brick_House04) April 21, 2022
— J.R. Holmsted (@JHolmsted) April 21, 2022
Yes, we had a similar reaction.
THIS IS GONNA BE FUN.