Tech

Apollo Said to Be Weighing Participating in Twitter Bid

The personal fairness agency Apollo International Administration is contemplating taking part in a bid for Twitter by providing debt financing to potential patrons, together with the Tesla chief govt Elon Musk, in response to an individual with data of the scenario.

No choices have but been made, mentioned the individual, who requested anonymity as a result of the talks have been confidential.

The Wall Road Journal earlier reported Apollo’s potential participation in a bid.

Mr. Musk, the world’s wealthiest man who additionally leads the rocket maker SpaceX, final week put ahead a roughly $40 billion bid to purchase Twitter. Mr. Musk, whose wealth is basically tied up in inventory, didn’t provide any particulars about financing such a deal.

Buyers have been skeptical that he would be capable to cobble collectively the funds wanted to purchase Twitter. Analysts have estimated Mr. Musk would want $15 billion to $20 billion in debt to fund his efforts. He just lately amassed a greater than 9 % stake within the firm.

Final week, Twitter introduced it was utilizing a way known as a “poison capsule,” which might make it considerably more durable for Mr. Musk to accumulate greater than 15 % of the corporate. Twitter mentioned the defensive maneuver wouldn’t cease the corporate from holding talks with any potential purchaser, and would give it extra time to barter a deal that Twitter’s board believes greatest displays the corporate’s worth.

Mr. Musk’s strategy seems to have stirred different potential patrons. No less than one different personal fairness agency, Thoma Bravo, has expressed curiosity in buying Twitter, The New York Occasions beforehand reported.

Mr. Musk, for his half, seems undeterred. On Saturday, he tweeted the phrases “Love Me Tender” alongside musical notes, a seeming reference to each the Elvis Presley ballad by the identical identify and a “tender provide” by which Mr. Musk would take his provide on to shareholders.

Apollo has expertise within the media trade. Final yr, it acquired AOL and Yahoo in a deal price $5 billion.

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