Elon Musk is willing to invest between $10 billion to $15 billion of his own money to take Twitter Inc private, according to New York Post reported on Tuesday citing sources familiar with the matter.
According to the report, Elon who is Twitter’s biggest shareholder with a 9.1% stake is planning to launch a tender offer in a about 10 days. He also reached Morgan Stanley to raise another $10 billion in debt.
New York Post also reported, Elon may also be willing to borrow against his current stake if necessary.
Twitter declined to comment. Tesla did not immediately respond to a Reuters request for comment from Musk.
More private-equity firms have expressed interest in participating in a deal for Twitter, people familiar with the matter told Reuters on Monday without naming the firm.
The interest emerged after Thoma Bravo, a technology-focused PE firm, contacted the social media platform last week to explore a buyout that would challenge Musk’s offer.
Apollo Global Management Inc is considering ways it can provide financing to any deal and is open to working with Musk or any other bidder, the sources told Reuters.
