Elon Musk plans to take Twitter public again in as little as three years of buying the social media company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
Twitter did not immediately respond to a Reuters request for comment, while Musk could not be reached for comment.
Reuters reported earlier this week that Musk is in talks with large investment firms and high net-worth individuals about taking on more financing for his $44 billion acquisition of Twitter and tying up less of his wealth in the deal.
On April 25, Twitter’s board of directors said is accepted the Tesla CEO’s offer to buy the company — bringing an end to a weekslong saga and ushering in a new era for the struggling social-media platform.
Musk will pay $54.20 per share for the company, which he has vowed to take private. The deal is expected to close later this year, subject to conditions including the approval of Twitter shareholders and regulators
As reported by the Post, Musk said last month he has lined up $21 billion in cash equity from himself and other co-investors to make the bid for Twitter. Musk said he also has arranged $25.5 billion of committed debt financing through Morgan Stanley in the form of loans against Twitter itself and his personal stock.
Musk has also sold off a whopping $8.5 billion in Tesla stock – but he insists that the rest of his stake in the electric car maker will remain untouched for now.
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