Elon Musk has designated approximately $46.5 billion in financing in a possible tender offer for the social media company, a Thursday SEC filing disclosed.
The filing noted that the billionaire “is exploring whether to commence a tender offer to acquire all of the outstanding shares of [Twitter’s] Common Stock”, offering $54.20 per share, “but has not determined whether to do so at this time."
According to the filing, the financing includes commitments from Morgan Stanley Senior Funding, Inc., along with "certain other financial institutions".
Last week, Musk suggested that he buy Twitter for some $43 million, earlier revealing that he had acquired approximately 9.2% of the social media platform's shares. The purchase made him the largest shareholder in the company.
However, Musk's offer to buy Twitter was met with little enthusiasm in the tech company. Twitter has even announced that its board of directors have adopted a shareholder rights plan — the so-called Poison Pill — to reduce the likelihood that any person, entity or group would be able to gain full control over the company without paying a premium.
The New York Post reported on Tuesday that Musk plans to invest up to $15 billion of his own money to delist Twitter from the New York Stock Exchange and make it private, apparently in a move to bring the platform closer to his vision of free speech-friendly social media.