Elon Musk says he has secured $46.5 billion in funding for Twitter bid

Tesla Chief Elon Musk said that he had lined up commitments worth $46.5 billion to finance a Twitter takeover deal, a week after he first made a public offer to buy the social media company, CNN reported. According to Musk, he has commitment letters to finance the deal, including two debt commitment letters from Morgan Stanley and other unnamed financial institutions and one equity commitment letter from himself, according to a filing with the Securities and Exchange Commission on Thursday (local time).

However, he has yet to receive any formal response from Twitter’s board to his offer to acquire all of its shares that he does not currently own for $54.20 a piece, the Tesla Chief said in the filing. Last week Twitter’s board adopted a “poison pill” defense that could make a takeover attempt prohibitively expensive.

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