Apollo Reportedly In Race To Take Over Twitter

• Investors remain skeptical regarding Elon Musk to assemble a fund required to acquire the social media platform.
• Elon Musk, the wealthiest individual on the globe, put a bid of $40 billion the previous weeks to take over Twitter.
• Apollo Global Management, a private equity organization, is considering taking part in this race to acquire the platform.

Apollo In Race To Gain Control Of Twitter?

The private equity organization, Apollo Global Management, is considering taking part in a bid to acquire Twitter by providing debt financing to potential acquirers, involving Tesla CEO Elon Musk, as per a person with knowledge of the scenario.

Currently, no decisions have been finalized, stated the individual, who wanted to remain anon as the discussions were confidential. As per a report by a news agency Apollo Global Management might be available there for the bid.

Elon Musk, the wealthiest man on the planet who is also leading SpaceX, a rocket maker, put a $40 Billion Deal on the table to get his hands on the social media program Twitter.

Elon Musk, whose wealth is majorly pegged up in the stock, did not provide any information regarding financing such an agreement.

World’s Wealthiest Human Cannot Afford Twitter?

Investors remain skeptical regarding Elon Musk’s ability to gather funds to take control of the social media platform. Researchers have made an estimate that Tesla’s CEO will need $15 Billion to $20 Billion in debt to fund his attempts. He recently amassed over a 9% of his stake in the organization.

The previous week, Twitter made an announcement that it was utilizing an approach known as the poison pill, which will make it tough for Elon Musk to get hands over 15% of the organization.

Twitter stated that the defensive maneuver will not stop them from holding talks with any potential acquirer, and will offer it more time to make negotiations which the Twitter board thinks best mirrors the platform’s value.

Elon Musk’s approach seems to have stirred other potential acquirers. At least another equity organization, Thoma Bravo, has shown interest in buying Twitter.

Elon Musk, for his part, seems undeterred. On Saturday, he made a Tweet associating with Late Elvis Presley and a “tender offer” where Tesla CEO would take his offer directly to shareholders.

Apollo has experience in the media sector. The previous year, it took over Yahoo and AOL in a deal worth $5 Billion.

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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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