June 1, 2023


Automotive and technology

Tesla CEO Elon Musk negotiating with potential partners, investors on Twitter deal, report says


Apollo Global Administration Inc. and Ares Management Corp. are among the the non-public equity corporations that have been in talks about delivering the funding, the resources extra.

Musk is nonetheless deciding regardless of whether he will share some his fairness verify for the deal with opportunity companions, in accordance to the resources. Musk is not seeking to consider on a lot more financial debt for the Twitter offer now, the sources extra.

Musk has also started out discussions with some of Twitter’s main buyers about the probability of them rolling their stake into the deal somewhat than cashing out, a single of the sources mentioned. Former Twitter CEO and recent board member Jack Dorsey is examining whether he will roll his take, the supply additional.

The sources requested anonymity since the issue is private. Musk, Dorsey, Apollo and Ares did not promptly react to requests for remark.

Musk uncovered last week he sold $8.5 billion in Tesla’s shares. He did not disclose the cause for the move, but investors widely interpreted it as carving out dollars for the Twitter offer.

Musk’s discussions with the private fairness companies are an additional indicator he is pressing on with the acquisition immediately after he signed an settlement to acquire Twitter on April 25.


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