Elon Musk plans to take Twitter public again in as little as three years of shopping for the social media company, the Wall Street Journal reported on Tuesday, citing people conversant in the matter.
Twitter didn’t immediately reply to a Reuters request for comment, while Musk couldn’t be reached for comment.
Reuters reported earlier this week that Musk is in talks with large investment firms and high net-worth individuals about taking up more financing for his $44 billion acquisition of Twitter and tying up less of his wealth within the deal.
On April 25, Twitter’s board of directors said is accepted the Tesla CEO’s offer to purchase the corporate — bringing an end to a weekslong saga and ushering in a recent era for the struggling social-media platform.
Musk can pay $54.20 per share for the corporate, which he has vowed to take private. The deal is anticipated to shut later this 12 months, subject to conditions including the approval of Twitter shareholders and regulators
Musk said he has lined up financing for his Twitter takeover bid.REUTERS
As reported by the Post, Musk said last month he has lined up $21 billion in money equity from himself and other co-investors to make the bid for Twitter. Musk said he also has arranged $25.5 billion of committed debt financing through Morgan Stanley in the shape of loans against Twitter itself and his personal stock.
Musk has also sold off a whopping $8.5 billion in Tesla stock – but he insists that the remaining of his stake in the electrical automobile maker will remain untouched for now.
