Austin Tech billionaire Elon Musk does not want to take out loans secured with his shares for the planned Twitter takeover. Originally, he wanted to get 12.5 billion dollars (11.7 billion euros) in this way. However, in a statement to the US Securities and Exchange Commission on Wednesday, it was said that Musk wanted to contribute this amount in another way. The head of the electric car manufacturer Tesla had presented funding commitments of 46 billion dollars for the Twitter deal.
The waiver of the loans secured with shares had already been expected after the price of Tesla shares had fallen significantly. After the restructuring, Musk now wants to contribute $ 33.5 billion, in addition to other loans. In order to raise this amount, he is already getting various investors on board.
According to the announcement, Musk also wants to talk to longtime Twitter CEO Jack Dorsey about bringing his shares into a deal in order to continue to be involved in Twitter after the acquisition is completed. Dorsey holds about 2.5 percent of Twitter, according to recent data, Musk bought a stake of a good nine percent in recent months.
Twitter shares rose by more than six percent in after-hours trading after the release of the announcement. At just under $ 40, the price was still well below the $ 54.20 per share that Musk has promised shareholders. Musk had recently declared the deal suspended, but from the point of view of Twitter, he cannot decide this unilaterally – and the service insists on the conclusion.