No, this time it's for real.
On the evening of April 19, Tesla Inc (NASDAQ:TSLA) CEO Elon Musk sent a mysterious tweet: "___ is the Night."
Filling in the blank would be "Tender" since Musk intends to make a tender offer to purchase 100% of Twitter Inc (NYSE:TWTR), and according to Benzinga Pro, Musk has acquired the $46.5 billion loan required to acquire the social media network.
According to the SEC filings, Musk has secured three distinct commitment letters for a total of $46.5 billion from Morgan Stanley Senior Funding and other financial institutions.
The following is a breakdown of the documents, all of which are dated April 20:
- Debt commitment letter funding: $13 billion
- Margin loan commitment letter: $12.5 billion
- Equity commitment letter: $21.5 billion
The following companies have made loan commitments:
- Morgan Stanley Senior Funding
- Bank of America, N.A,
- BofA Securities Inc
- Barclays
- MUFG Bank Ltd.
- Mizuho Bank, Ltd.
- BNP Paribas Securites Corp
- Societe Generale
While Musk is attempting to reach a definite agreement to buy Twitter, the social media site has yet to respond to the offer, though the company committed to reviewing the offer on a continuing basis.
See Also: Are Elon Musk And Twitter A Hindrance To Your Portfolio?
TWTR Price action: Shares of Twitter are trading 3.52% lower over the last five trading sessions and are now up 0.043% at $46.76. The stock has moved in a range of $31.30 to $73.34 over the past 52 weeks.
TSLA Price action: Shares of Tesla are trading 5.71% higher over the last five trading sessions and are now up 5.86% at $1,034.50. The stock has moved in a range of $546.98 to $1,243.49 over the past 52 weeks.
