• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, June 25, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Elon Musk Forms Three ‘X Holdings’ Companies for His Twitter Bid

by Srestha Roy
April 23, 2022 - Updated On April 24, 2022
in News
Reading Time: 2 mins read
0
Elon Musk Forms Three ‘X Holdings’ Companies for His Twitter Bid
TwitterWhatsappLinkedin

As a result, the story continues. Elon Musk claimed in a Securities and Exchange Commission (SEC) filing on April 21 that Twitter has not reacted to his proposal, and that as a result of Twitter’s lack of reaction, he is considering launching a tender offer to purchase the social media network.

You might also like

Microsoft Plans Major Layoffs Across Xbox and Sales Teams as Part of Strategic Overhaul

Greek Court Hands Down Unprecedented Prison Sentence Over Defunct BitTorrent Site

Tesla’s Robotaxi Launch Marred by Traffic Violations, But Stock Surges Amid Influencer Praise

According to the petition, Musk, who has obtained $46.5 billion in funding for the bid, has founded three entities: X Holdings I, X Holdings II, and X Holdings III, all of which are Delaware-incorporated and situated in Austin, Texas.

According to Bloomberg, the aim is to inject money into one of the corporations to support the tender offer for Twitter shares, while a subsidiary would combine with the social media company.

According to the report, Musk received $46.5 billion in funding, which comprises $25.5 billion from Morgan Stanley Senior Funding and $21 billion in equity financing.

While it’s unclear whether the holding companies will have any ties to Musk’s existing businesses, such as Tesla and Space X, Bloomberg notes that he owns the domain “X.com,” which was the name of the online payments company he founded and later merged with PayPal.

“Yesterday’s filing was a seminal moment in this “Game of Thrones” real-life battle for Twitter as Musk detailed his secured financing for $46.5 billion around the Twitter bid and now puts more pressure on the Board with their back against the wall unless a second “white knight” bidder from private equity emeritus emerges,” Wedbush Securities analyst Dan Ives wrote in a note on April 22.

The filing also discloses that a consortium of banks led by Morgan Stanley is willing to finance Musk $25.5 billion, including a second $12.5 billion loan backed by the value of Musk’s Tesla stock, according to Ives.

In terms of next actions, Twitter’s board of directors passed a poison pill last week that provides the firm extra time to find a second bidder. Next week, according to Ives, will be crucial, since Twitter will publish its profits on April 28 and the Board will most likely reject Musk’s proposal.

Tags: Elon MuskSECSpace XX holding
Tweet54SendShare15
Previous Post

A massive $17.5 billion has been taken out of global equities by investors

Next Post

House Republicans ask Twitter board to retain records tied to Musk offer

Srestha Roy

Recommended For You

Microsoft Plans Major Layoffs Across Xbox and Sales Teams as Part of Strategic Overhaul

by Harikrishnan A
June 25, 2025
0
Microsoft’s Copilot+ Faces Scrutiny Over New Recall Feature

Microsoft is preparing to launch another wave of layoffs, with its Xbox gaming division expected to bear the brunt of the cuts. The move is part of a...

Read more

Greek Court Hands Down Unprecedented Prison Sentence Over Defunct BitTorrent Site

by Harikrishnan A
June 25, 2025
0
Decade-Old Torrent Site Lands Greek Man in Prison Amid Renewed Piracy Crackdown

In a ruling that has stunned both legal experts and digital rights advocates, a Greek court has sentenced a 59-year-old man from Piraeus to five years in prison...

Read more

Tesla’s Robotaxi Launch Marred by Traffic Violations, But Stock Surges Amid Influencer Praise

by Harikrishnan A
June 25, 2025
0
Tesla’s Robotaxi Launch Marred by Traffic Violations, But Stock Surges Amid Influencer Praise

Tesla's long-awaited Robotaxi rollout in Austin, Texas, turned heads this week—not just for its technical innovation but also for moments of troubling behavior on the road. Videos captured...

Read more
Next Post
House Republicans ask Twitter board to retain records tied to Musk offer

House Republicans ask Twitter board to retain records tied to Musk offer

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?