Home » Twitter Reportedly Reviews Elon Musk’s Bid

Twitter Reportedly Reviews Elon Musk’s Bid

CEO of Tesla motors, Elon Musk has been allegedly approached by social network company twitter, over the weekend to view his $43bn (£33.6bn) takeover bid for the social media platform.

This development occurred after it was revealed that the renowned entrepreneur, who owns a more than 9% stake in Twitter became interested in the company’s takeover.

Considering funding, Mr Musk has a plan to finance his bid with the backing of US lender Morgan Stanley and other financial institutions, BBC reports.

So far, there hasn’t been any response or reports from Twitter’s a spokesperson.

According to Reuters, the New York Times and Bloomberg, Mr Musk, has lined up a $46.5bn financing package for his bid.

The funding will come from a mixture of his own assets and the backing of Wall Street banking giant Morgan Stanley and other firms.

A number of Twitter shareholders reportedly contacted the company after Mr Musk announced the financing plan and urged it not to miss the opportunity for a potential deal.

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