Apollo Said to Be Weighing Participating in Twitter Bid

Private equity firm Apollo Global Management is considering bidding for Twitter by offering debt financing to potential buyers, including Tesla’s chief executive Elon Musk, according to a person familiar with the situation.

No decision has been made yet, the person said, requesting anonymity because the conversation was confidential.

The Wall Street Journal previously reported a possible participation in Apollo’s bid.

Mr. Musk, the world’s richest man who also heads rocket maker SpaceX, last week made a bid of about $ 40 billion to buy Twitter. Mr. Musk, whose assets are mostly stockpiled, did not provide any details about the financing of such a deal.

Investors are skeptical that he will be able to raise the funds needed to buy Twitter. Analysts estimate that Mr. Musk will need વાની 15 billion to $ 20 billion in debt to fund its efforts. It has recently acquired more than 9% stake in the company.

Last week, Twitter announced that it was using a method called “poison pill”, which would make it significantly more difficult for Mr. Musk will buy more than 15 percent of the company. Twitter said the defensive buyer maneuver would not prevent the company from negotiating with any potential, and would give it more time to negotiate a deal that Twitter’s board believes reflects the company’s value in the best possible way.

Mr. Musk’s approach seems to have stimulated other potential buyers. At least one other private equity firm, Thomas Bravo, has expressed interest in acquiring Twitter, The New York Times reported earlier.

Mr. Musk, for its part, looks uncertain. On Saturday, he tweeted the words “Love meAlong with the musical notes, there is an apparent reference to both the Elvis Presley ballad of the same name and the “tender offer” in which Mr. Musk will take his offer directly to shareholders.

Apollo has experience in the media industry. Last year, it acquired AOL and Yahoo in a 5 billion deal.

Similar Posts

Leave a Reply

Your email address will not be published.