Apollo Global, Elon Musk end talks on Twitter financing: Reuters
Quick Take
- Apollo Global Management and Elon Musk are “no longer in talks” about a potential financing deal for the billionaire entrepreneur’s prospective bid to buy Twitter.
- The alternative investment firm had previously sought to lead the preferred financing for the takeover.
Apollo Global Management and Elon Musk are "no longer in talks" about a potential financing deal for the billionaire entrepreneur's prospective bid to buy Twitter, according to Reuters.
Apollo had previously considered taking part in Musk’s offer to buy Twitter at $44 billion or $52.40 a share in April of this year. At the time, Apollo weighed whether it should provide another bidder with the proper equity or debt for the purchase.
Dozens of outside firms had offered to help Musk buy the social media platform, including the crypto exchange giant Binance. Of the outside firms, Apollo had sought to lead preferred financing for Musk’s Twitter bid.
Musk first offered to buy Twitter in April of 2022 for $44 billion, backed down in July, then renewed interest in buying the social media platform on October 4, The Block previously reported. Should the deal go through, Musk has said that he intends to tackle Twitter’s bot problem.
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