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Private equity firm Apollo Global Management is considering taking part in a bid for Twitter by offering debt financing to potential buyers, including Tesla CEO Elon Musk, according to someone familiar with the situation.
The person, who did not want his name to be disclosed due to the confidentiality of the talks, said that no decision has been made yet.
The Wall Street Journal previously reported Potential involvement of Apollo in a proposal.
Musk, the richest man in the world, who also leads rocket maker SpaceX, made a nearly $40 billion offer to buy Twitter last week. Mr. Musk, whose fortune is largely dependent on stocks, did not provide any details on the financing of such a deal.
Investors skeptical He said he could raise the funds needed to buy Twitter. Analysts estimate that Mr. Musk will need between $15 billion and $20 billion in debt to fund his efforts. It recently acquired more than 9 percent stake in the company.
Last week, Twitter announced that it was using a method called “poison pill, which would make it significantly more difficult for Mr. Musk to acquire more than 15 percent of the company. Twitter said the defensive maneuver won’t stop the company from discussing any potential buyers, giving it more time to negotiate a deal that Twitter’s board believes best reflects the company’s value.
Mr. Musk’s approach seems to have mobilized other potential buyers. Thoma Bravo, at least one private equity firm, has expressed interest in acquiring Twitter, The New York Times previously reported.
Mr. Musk, for his part, seems determined. He tweeted on Saturday:love me tenderAlongside the notes, it is ostensibly a reference to both Elvis Presley’s ballad of the same name and a “tender offer” in which Mr. Musk will take his bid directly to shareholders.
Apollo has experience in the media industry. Last year, AOL and Yahoo bought iThere is no 5 billion dollar deal.
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