Deals
Elon Musk Seeks to Scrap Tesla Margin Loan With New Twitter Funding
- Discusses up to $6 billion in preferred equity for Twitter
- Margin loan against Tesla stock was originally $12.5 billion
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Elon Musk is in talks to raise enough equity and preferred financing for his proposed buyout of Twitter Inc. to eliminate the need for any margin loan linked to his Tesla Inc. shares, according to people with knowledge of the matter.
The billionaire’s advisers, led by Morgan Stanley, have begun soliciting interest from potential investors for as much as $6 billion in preferred equity financing, the people said, asking not to be named discussing a private transaction.