Bloomberg Law
Mergers & Acquisitions
April 21, 2022, 2:29 PM

Musk’s Twitter Financing Plan Raises Questions About Tesla Stake

By Crayton Harrison and Tom Maloney

Crayton Harrison
Crayton Harrison
Bloomberg News
Tom Maloney
Tom Maloney
Bloomberg News
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Elon Musk says he’s secured $46.5 billion in funding for a takeover of Twitter Inc. But more than two-thirds of that is either coming from his own pocket or borrowing against his Tesla shares.

Musk’s filing with the U.S. Securities and Exchange Commission on Thursday details $25.5 billion in debt financing from Morgan Stanley and other financial institutions, including margin loans backed by his equity stake in Tesla Inc. It also includes $21 billion in equity financing to be provided by Musk himself.

Musk currently has about $3 billion in cash or other somewhat liquid assets after spending $2.6 billion ...

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