Elon Musk has secured the money to buy Twitter, but there are still many doubts

Elon Musk said he had received the necessary funds to start his Twitter takeover offer $46.5 billion, partly in the form of a loan from Morgan Stanley Senior Funding (25.5 billion) and partly from his personal finances (the remaining 21 billion).

The details of the plan — and the funds to back it up — have been filed with the SEC, the authority that oversees the U.S. stock market.

Elon Musk already owns 9% of Twitter’s shares and is the company’s second largest shareholder. The document filed with the SEC shows that the Twitter board has not yet issued a formal response to the purchase proposal. Elon Musk is ready to start negotiations immediately.

A Twitter spokesperson confirmed receipt of the proposal, adding that the company’s board of directors will examine it closely. “We have received an updated and non-binding proposal from Elon Musk, which contains additional information to the original proposal, as well as information about potential financing to cover it,” he explained. “The board of directors intends to conduct a careful, thorough and considered assessment to determine what actions should be taken in the best interest of the company and Twitter’s shareholders.”

Although Elon Musk has stated that he has secured the funds to close the deal, there are still significant doubts about its feasibility. For example, The Verge, which takes an analysis from the NY Times, explains that Elon Musk can’t use most of his Tesla stock as loan collateral, but only a small portion.

To this must be added what now seems obvious twitter board hostility compared to the hypothesis of an Elon Musk takeover. Last week the Council approved the so-called ‘poison pill‘, a plan that would allow some shareholders to buy additional shares at a rock bottom price, increasing the company’s current number of outstanding shares and effectively blocking any hostile takeover attempt — or even preventing Musk from taking more control of the company. 15% of the shares. Twitter’s stock – because the operation would become too expensive at the time.