filing with the SEC. The $46.5 billion – backed by debt commitment letters from Morgan Stanley and other financial firms – is $3.5 billion more than the $43 billion of his publicized offer, though it was not immediately clear whether that represented a higher price-point offer or just buys Musk additional negotiating wiggle-room.The filing says Twitter has not responded, and that Musk is exploring “whether to commence a tender offer to acquire all of the outstanding shares of Common Stock … at a price of $54.20 per share.” Any shareholder could choose to take the offer; if a majority (plus Musk’s outstanding shares, just over 9%) were to agree, he could take control — though Twitter’s recently enacted “poison pill” conditions could upend that process.The filing is notable in that it prevents Musk from making the same mistake a second time: The Tesla CEO got in hot water with the SEC for tweeting in 2018 that he was “considering taking Tesla private at $420.
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