Tesla CEO Elon Musk has obtained $46.5 billion in funding for the purchase of Twitter Inc. and is exploring a tender offer for its shares.
Musk has pledged to invest $33.5 billion in the transaction; with $21 billion in cash and $12.5 billion in margin loans.
The deal’s structure was revealed today in documents filed with the Securities and Exchange Commission.
According to the statement, Musk was “exploring whether to start a tender offer… but has not determined whether to do so at this time.”
According to the petition, banks such as Morgan Stanley have agreed to contribute an additional $13 billion; in debt secured against Twitter.
The fresh filings come a week after Elon Musk, the Tesla CEO; launched a $43 billion bid for Twitter after declining a seat on its board.
A representative from Twitter could not be reached for comment right away.
Meanwhile, Serena Williams and Lewis Hamilton have reportedly teamed up with Sir Martin Broughton’s bid to buy Chelsea; with the stars prepared to invest in buying the Stamford Bridge club.
According to Sky News, the seven-time Formula One champion; as well as the 23-time Grand Slam winner are prepared to pledge £10million each to the deal. Chelsea is expected to be sold for around £2.5bn.
Broughton, the former chairman of British Airways and Liverpool FC, has apparently been in talks with the duo for weeks.
Despite the fact that Hamilton supports Chelsea’s London rivals Arsenal; Sky News said the formula 1 driver would ‘play a formal role in Chelsea’s future efforts to promote diversity; equity as well as inclusion’ if Broughton’s bid ends up being successful.