Elon Musk is exploring whether to commence a tender offer for Twitter, according to a new securities filing.
In an updated filing published Thursday, Musk said that given the lack of response from Twitter’s board, he is now exploring a tender offer to purchase some or all shares of the company directly from its stockholders.
The filing says Musk has received commitments for $46.5 billion to help finance the potential deal. Musk has secured about $25.5 billion in debt financing through Morgan Stanley Senior Funding and other firms, and he said he has committed about $21 billion in equity financing. The other participating firms include Bank of America, Barclays, MUFG, Societe Generale, Mizuho Bank and BNP Paribas.