Elon Musk plans to take Twitter public again in as little as three years: report

Elon Musk reportedly plans to take Twitter public once more in as little as three years.
AFP through Getty Photographs

Elon Musk plans to take Twitter public once more in as little as three years of shopping for the social media firm, the Wall Avenue Journal reported on Tuesday, citing folks acquainted with the matter.

Twitter didn't instantly reply to a Reuters request for remark, whereas Musk couldn't be reached for remark.

Reuters reported earlier this week that Musk is in talks with giant funding corporations and excessive net-worth people about taking over extra financing for his $44 billion acquisition of Twitter and tying up much less of his wealth within the deal.

On April 25, Twitter’s board of administrators stated is accepted the Tesla CEO’s provide to purchase the corporate — bringing an finish to a weekslong saga and ushering in a brand new period for the struggling social-media platform.

Musk can pay $54.20 per share for the corporate, which he has vowed to take non-public. The deal is anticipated to shut later this yr, topic to situations together with the approval of Twitter shareholders and regulators

Musk stated he has lined up financing for his Twitter takeover bid.

REUTERS

As reported by the Submit, Musk stated final month he has lined up $21 billion in money fairness from himself and different co-investors to make the bid for Twitter. Musk stated he additionally has organized $25.5 billion of dedicated debt financing via Morgan Stanley within the type of loans towards Twitter itself and his private inventory.

Musk has additionally bought off a whopping $8.5 billion in Tesla inventory – however he insists that the remainder of his stake within the electrical automobile maker will stay untouched for now.