Apollo eyes $1bn in finance for Musk’s Twitter bid

Apollo Global Management is in talks to lead a preferred financing for Elon Musk’s proposed buyout of Twitter, according to people with knowledge of the deal.

That’s despite Musk revealing last week he’s getting $7.1bn in equity commitments from investors including Larry Ellison, Sequoia Capital and Qatar. He persuaded Saudi Prince Alwaleed bin Talal to roll his $1.9bn of Twitter stock into the privatised company and is seeking to do the same with Twitter co-founder Jack Dorsey.

Preferred equity is a hybrid of debt and equity capital that sits above common equity in the capital structure. Some preferred equity is convertible into common shares at a pre-agreed price. Marc Rowan, Apollo’s CEO, touted the attractiveness of hybrid investments in a recent interview with David Rubenstein, saying it offers the best risk versus reward in markets.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elon Musk Says He Will Reverse Trump's Ban on Twitter - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and ReportsElon Musk, the Tesla CEO, confirmed that he will restore the former US President’s Twitter account should his acquisition of the social media platform successfully close later this year. Twitter announced a permanent suspension of former US President Donald Trump’s account last year “due to the risk of further incitement of violence,” the company said. […]
Source: ITNewsAfrica - 🏆 27. / 59 Read more »