Musk Wants to Make Twitter a Public Company Again Later
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© Reuters Musk Wants to Make Twitter (TWTR) a Public Company Again Later – ReportPotential inventors were told by Elon Musk that he would return Twitter (NYSE) to public ownership within a matter of weeks, only a few weeks after purchasing the social media company for $44billion and making it private.
According to reports, Tesla’s (NASDAQ:) CEO stated that he would consider launching a Twitter initial public offer within just three years of the acquisition. Subject to approval by regulators and shareholders, the deal for buyout is expected to close this year.
Musk was negotiating deals with financial firms in order to reduce the $21billion that he had planned to borrow to finance his deal. Loans will be used to pay the remainder of the financing. Apollo Global Management (NYSE -) participated in the negotiations.
The private-equity companies are well known for taking businesses private and returning them to the public after several years. There are indications that Musk could follow a similar strategy with Twitter, which could help assure potential investors about his commitment to improving the social media company’s business operation and profitability before taking it public again.
Musk’s exact intentions for Twitter still remain unclear apart from his plans to make the company less censorious in content moderation.
By Senad Karaahmetovic
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