Apollo Considers Backing Elon Musk, Other Suitors for Twitter Bid
Apollo Global Is Interested in Helping Finance a Bid for Twitter
(Bloomberg) -- Apollo Global Management Inc. is interested in helping finance a bid for Twitter Inc. following Elon Musk’s $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 two weeks on Monday after the social media company launched a poison pill defense to thwart Musk’s bid to take the company private at $54.20 a share.
Morgan Stanley is advising Musk, according to a filing Thursday, while Twitter has enlisted the help of Goldman Sachs Group Inc. and JPMorgan Chase & Co. as it considers how to respond to Musk’s hostile bid, Bloomberg reported.
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