Washington, April 21: Elon Musk says he has lined up $46.5 billion in financing to buy Twitter, and he's trying to negotiate an agreement with the company. Last week, Musk announced an offer to buy the social media company for $54.20 per share, or about $43 billion. At the time, he did say how he would finance the acquisition.

The Tesla CEO says Thursday in documents filed with US securities regulators that he's exploring what's known as a tender offer to buy all of the social media platform's common stock for $54.20 per share in cash. Under a tender offer, Musk, who owns about 9% of Twitter shares, would take his offer directly to other shareholders, bypassing the board. But Musk hasn't decided yet whether to do that. Elon Musk Has Secured a $46.5 Billion Financing Commitment to Acquire Twitter.

The documents say Twitter has not responded to Musk's proposal.

Last week Twitter's board adopted a “poison pill” defence that could make a takeover attempt prohibitively expensive. The filing states that “entities related to (Musk) have received commitment letters committing to provide an aggregate of approximately $46.5 billion”.

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