Elon Musk has already bought 9.1 percent of Twitter’s shares. He plans to submit a tender proposal in the next 10 days to buy more shares. The New York Post reported on Tuesday, citing two reliable sources. International media Reuters also published the news.
According to Reuters, the Tesla chief has chosen Morgan Stanley to invest 10 billion in addition to his own investment on Twitter. Neither Twitter nor Tesla has commented on the matter.
Earlier, Elon also offered to buy ownership of Twitter. The current board of social media Twitter has adopted the ‘Poison Pill’ policy to thwart his 43 billion offer. Under the ‘Poison Pill’ policy, Twitter is required to buy more shares than a certain amount. Following the ‘Poison Pill’ policy to stop Elon, several investment firms have expressed interest in signing a deal with Twitter. Relevant individuals did not mention the name of the company told Reuters such information
The interest arose when technology-based PE firm Thomas Bravo approached social media last week to challenge Musk’s proposal and buy out. Apollo Global Management is considering financing any deal and is open to working with Elon or other interested investors, a company source told Reuters.