Apollo Global Management Inc. is in talks to lead a preferred financing for Elon Musk’s proposed buyout of Twitter Inc., according to people with knowledge of the deal.
The funding, arranged by Morgan Stanley, will exceed US$1 billion and may include Sixth Street Partners, among other firms, the people said.
That’s despite Musk revealing last week he’s getting US$7.1 billion in equity commitments from investors including Larry Ellison, Sequoia Capital and Qatar. He persuaded Saudi Prince Alwaleed bin Talal to roll his US$1.9 billion of Twitter stock into the privatized company and is seeking to do the same with Twitter co-founder Jack Dorsey.
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