We'll get there, eventually! Musk races to secure financing for bid
Last week, $Tesla(TSLA.US$ Musk, the world’s wealthiest man, made an unsolicited offer for the social media company, saying that he wanted to take it private and that he wanted people to be able to speak more freely on the service.
Morgan Stanley, the investment bank working with Musk on the potential deal, has been calling banks and other potential investors to shore up financing for the offer, four people with knowledge of the situation said. Musk is first focused on raising debt and has not yet begun to seek equity financing for his bid, one of the people said.
Musk owns more than 9% of Twitter now, making him its single-biggest individual shareholder.
$Twitter (Delisted)(TWTR.US$ is expected to provide an update on its deal-making prospects when it reports quarterly earnings Apr 28.
$Twitter (Delisted)(TWTR.US$ is expected to provide an update on its deal-making prospects when it reports quarterly earnings Apr 28.
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