The Clap
Elon Musk has secured the needed funds to make a move on Twitter, & is exploring making a tender offer for the company.
Backstory
A little over a week ago Musk made an offer to acquire all of Twitter for $43 billion, to which Twitter’s board responded by adopting a defense plan against possible takeovers. The board said it needs time to carefully assess the offer.
Funding sources
Musk secured $46.5 billion in debt & equity financing from major banks like Morgan Stanley & Bank of America.
Why this matters
Unlike the initial offer Musk made, a tender offer would allow him to swoop in & purchase some or all shares of the company directly from its stockholders.
