Beautiful Virgin Islands

Monday, Sep 01, 2025

Elon Musk secures £35.6bn funding for Twitter takeover attempt

Elon Musk secures £35.6bn funding for Twitter takeover attempt

The world's richest man launched his audacious attempt to acquire Twitter last week, saying his proposed takeover is needed to uphold free speech. Critics have argued his offer is not serious and is intended only for publicity.

Elon Musk has secured the financing for his takeover bid of Twitter, including £16.1bn of his own fortune, according to a new regulatory filing on Thursday.

The remainder of the funding, amounting to more than £19.5bn, will be provided through two debt commitment letters offering a series of loans from Morgan Stanley Senior Funding.

Twitter has yet to respond to Musk’s offer, the filing to the US Securities and Exchange Commission said.

The world’s richest man launched his audacious acquisition attempt last week, saying his proposed takeover is needed to uphold free speech.

But critics say the offer is not serious and is intended only for publicity.

The Tesla chief executive offered to pay $54.20 a share a little more than a week after his 9.2% stake in the company was publicly announced.

The offer values the social media giant at $41bn (£33bn).

Despite being worth more than £190bn, Musk has most of his fortune tied up in Tesla stock. He is able to borrow against that equity to finance his bid for Twitter, but there are limits to how much he is allowed to stake on the acquisition.

In response to Musk’s announcement, Twitter's board of directors unanimously adopted a "poison pill" defence.

The strategy is formally called a "limited duration shareholder rights plan" and is used to defend against hostile takeovers.

Twitter said the move aims to enable its investors to "realise the full value of their investment" by reducing the likelihood any one person can gain control of the company without either paying shareholders a premium or giving the board more time.

The social media giant's plan would take effect if Musk's roughly 9% stake grows to 15% or more.

Even then, the Tesla boss could still take over the company with a proxy fight by voting out the current directors.

Twitter said the plan does not prevent the board from engaging with parties or accepting an acquisition proposal if it is in the company's "best interests".

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
Israeli Airstrike in Yemen Kills Houthi Prime Minister
Ukrainian Nationalist Politician Andriy Parubiy Assassinated in Lviv
Corporate America Cuts Middle Management as Bosses Take On Triple the Workload
Parents Sue OpenAI After Teen’s Death, Alleging ChatGPT Encouraged Suicide
Amazon Faces Lawsuit Over 'Buy' Label on Digital Streaming Content
Federal Reserve Independence Questioned Amid Trump’s Push to Reshape Central Bank
British Politics Faces Tumultuous Autumn After Summer of Rebellions and Rising Farage Momentum
US Appeals Court Rules Against Most Trump-Era Tariffs
UK Sought Broad Access to Apple Users’ Data, Court Filing Reveals
UK Bank Shares Dive Over Potential Tax on Sector
Germany’s Auto Industry Sheds 51,500 Jobs in First Half of 2025 Amid Deepening Crisis
Bruce Willis Relocated Due to Advanced Dementia
French and Korean Nuclear Majors Clash As EU Launches Foreign Subsidy Probe
EU Stands Firm on Digital Rules as Trump Warns of Retaliation
Getting Ready for the 3rd Time in Its History, Germany Approves Voluntary Military Service for Teenagers
Argentine President Javier Milei Evacuated After Stones Thrown During Campaign Event
Denmark Confronts U.S. Diplomat Over Covert Trump-Linked Influence in Greenland
Starmer Should Back Away from ECHR, Says Jack Straw
Trump Demands RICO Charges Against George Soros and Son for Funding Violent Protests
Taylor Swift Announces Engagement to NFL Star Travis Kelce
France May Need IMF Bailout, Warns Finance Minister
Chinese AI Chipmaker Cambricon Posts Record Profit as Beijing Pushes Pivot from Nvidia
After the Shock of Defeat, Iranians Yearn for Change
Ukraine Finally Allows Young Men Aged Eighteen to Twenty-Two to Leave the Country
The Porn Remains, Privacy Disappears: How Britain Broke the Internet in Ten Days
YouTube Altered Content by Artificial Intelligence – Without Permission
Welcome to The Definition of Insanity: Germany Edition
Just a reminder, this is Michael Jackson's daughter, Paris.
Spotify’s Strange Move: The Feature Nobody Asked For – Returns
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
×