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American News Apr 22, 2022 12:21 PM EST

Elon Musk secures capital to back Twitter takeover

Elon Musk on Thursday filed with the SEC to show that he has now secured $46.5 billion for his bid to take Twitter over, of which $22.5 billion will come from his on equities.

Elon Musk secures capital to back Twitter takeover
James Anthony Montreal QC

Elon Musk on Thursday filed with the SEC to show that he has now secured $46.5 billion for his bid to take Twitter over, of which $22.5 billion will come from his on equities.

Musk has been buying stock in the social media company since February, and currently owns around 9.1 percent of all shares, making his stake in the company one of the largest at this time.

According to CBS News, "Twitter has not formally responded to his offer." However, "given the lack of response by Twitter, [Musk himself] is exploring whether to commence a tender offer," stated the filing.

Twitter's board has adopted what is called a "poison pill" measure to try and stop Musk's plans from becoming reality. However, the strategy is seen as only a temporary measure, as Musk and his allies can easily find ways around it.

There are also apparently some legal issues with the "poison pill" strategy that could land the board members in hot water. Governor Ron De Santis (R-FL) is apparently instructing his legal team to look further in the matter to see what options his government has available to move against them.

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