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Apollo Looks To Lead $1B Preferred Financing For Musk's Twitter Bid

  • Apollo Global Management, Inc APO discussed leading preferred financing for Elon Musk’s proposed buyout of Twitter Inc TWTRBloomberg reports
  • The funding, arranged by Morgan Stanley, will exceed $1 billion and may include Sixth Street Partners, among other firms.
  • Musk recently bagged $7.1 billion in equity commitments from investors including Larry Ellison, Sequoia Capital, and Qatar. 
  • Also Read: The Fate Of Donald Trump’s Twitter Presence Depends On Elon Musk: ‘I Would Reverse The Permanent Ban’
  • Musk convinced Saudi Prince Alwaleed bin Talal to roll his $1.9 billion Twitter stock into the privatized company.
  • Musk is also trying to convince Twitter co-founder Jack Dorsey to contribute his shares immediately or before the merger’s closing.
  • Previously Musk agreed to buy Twitter for $44 billion and take it private, where he has promised to return free speech and debate.
  • Musk looks to boost its bottom line and monetize the platform.
  • Price Action: APO shares closed higher by 1.78% at $50.43 on Tuesday.

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