Billionaire Elon Musk is making efforts to invest around $10 to $15 billion of his money to take Twitter Inc private. As of now, he is the second largest shareholder with a 9.1% stake in Twitter. Last week, the social media company adopted a ”poison pill” to protect itself from Musk’s buyout offer.
Many investors and investment bankers are expecting Twitter’s board to reject Musk’s offer saying that the offer is inadequate.
Meanwhile a technology based PE firm Thomas Bravo is exploring a buyout that will challenge the offer made by Musk. Another company Apollo Global Management is also looking out how it can provide financing to the deal and is open to working with Musk or any other bidder.