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Elon Musk Secures $46.5 Billion in Financing for Potential Twitter Takeover

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Todd Spangler NY Digital EditorTech billionaire Elon Musk is moving forward with his potential bid to acquire Twitter, revealing that he has lined up $46.5 billion in financing for a possible tender offer for the company.The financing was disclosed in an SEC filing Thursday.

Musk’s financing includes commitments from Morgan Stanley and “certain other financial institutions.”According to the filing, Musk has not yet determined whether he will make a tender offer for Twitter or whether he will take other steps to further the proposal.Last week, Musk — the CEO of Tesla and SpaceX who is the wealthiest person on the planet — proposed to buy Twitter for about $43 billion in a hostile takeover, offering $54.20 per share for the social media company.

Last Friday, Twitter adopted a “poison pill” plan to fend off a potential hostile takeover. Musk earlier this month disclosed that he had acquired about 9.2% of the shares in Twitter, making him the largest shareholder in the company.More to come.

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