Tesla CEO Elon Musk negotiating with potential partners, investors on Twitter deal, report says
Apollo Global Management Inc. and Ares Management Corp. are among the private equity firms that have been in talks about providing the financing, the sources added.
Musk is still deciding whether he will share some his equity check for the deal with potential partners, according to the sources. Musk is not seeking to take on more debt for the Twitter deal currently, the sources added.
Musk has also started conversations with some of Twitter’s major investors about the possibility of them rolling their stake into the deal rather than cashing out, one of the sources said. Former Twitter CEO and current board member Jack Dorsey is examining whether he will roll his take, the source added.
The sources requested anonymity because the matter is confidential. Musk, Dorsey, Apollo and Ares did not immediately respond to requests for comment.
Musk revealed last week he sold $8.5 billion in Tesla’s shares. He did not disclose the reason for the move, but investors widely interpreted it as carving out cash for the Twitter deal.
Musk’s conversations with the private equity firms are another indication he is pressing on with the acquisition after he signed an agreement to buy Twitter on April 25.
