New Delhi: Tesla chief Elon Musk has $46.5 billion in funding ready to buy social media company Twitter. He told on Thursday that he is trying to negotiate a deal with Twitter.
Musk uncovered his ambitious plan for the Twitter takeover that will see $25.5 billion in loans and $21 billion in personal equity - taking the last offered to $46.5 billion.
In fresh filed documents before the US Securities and Exchange Commission (SEC), Musk said that the financing is given through two obligation responsibility letters from Morgan Stanley Senior Funding, in which the bank focuses on offering a progression of advances worth $25.5 billion.
The remaining $21 billion will be overseen by Musk all alone, reports The Verge.
"Notably, the filing does not list any equity partners to share the cash burden with Musk," the report said.
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The filing likewise clarified that Twitter has not officially answered Musk's offer.
"The Reporting Person is seeking to negotiate a definitive agreement for the acquisition of Twitter by the Reporting Person and is prepared to begin such negotiations immediately," read the new filing.
A Twitter representative said the company has received Musk's offer and said it would lead a "careful, comprehensive" review, the report noted.
"We are in receipt of the updated, non-binding proposal from Elon Musk, which provides additional information regarding the original proposal and new information on potential financing," the spokesperson said.
Musk, who recently bought a nine percent stake in Twitter, will submit the proposal directly to shareholders rather than to the board of directors. However, he is yet to decide whether he will do so or not. The documents said Twitter has yet to respond to Musk's proposal. Meanwhile, Twitter's board of directors last week adopted a policy that could cost the company an acquisition effort.