To take over Twitter, Elon Musk plans to invest between $10 billion and $15 billion of his own money, the New York Post reported on Tuesday.
According to the story, the billionaire, who owns 9.1% of Twitter, intends to launch a tender offer in approximately ten days and has enlisted Morgan Stanley to help him fund another $10 billion in debt.
According to the New York Post, Musk, the CEO of Tesla Inc, may be willing to borrow against his present ownership, if necessary, a move that might raise several billion dollars.
Twitter did not return requests for comment. Musk did not respond to a request for comment from Reuters right away.
Last week, Facebook implemented a “poison pill” to shield itself from Musk’s $43 billion buyout offer.
On Monday, people familiar with the subject told Reuters that more private-equity groups had indicated an interest in partnering in a transaction for Twitter.