Apollo Global interested in helping finance a bid for Twitter: sources
Add BT as a preferred sourceAPOLLO Global Management is interested in helping finance a bid for Twitter following Elon Musk’s US$43 billion unsolicited offer to take the company private, according to people familiar with the matter.
Apollo is considering backing a potential deal for Twitter and could provide Musk or another bidder like private-equity firm Thoma Bravo LP with equity or debt to support an offer, the people said, declining to be named because the discussions are private. The participation could come in the form of credit or preferred equity, one of the people said.
The Wall Street Journal earlier reported Apollo’s interest.
Twitter shares posted their biggest gain in 2 weeks on Monday (Apr 18) after the social media company launched a poison pill defence to thwart Musk’s bid to take the company private at US$54.20 a share.
Morgan Stanley is advising Musk, according to a filing Thursday, while Twitter has enlisted the help of Goldman Sachs Group and JPMorgan Chase & Co as it considers how to respond to Musk’s hostile bid, Bloomberg reported. BLOOMBERG
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