Apollo Looks To Lead $1B Preferred Financing For Musk's Twitter Bid

Apollo Global Management, Inc APO discussed leading preferred financing for Elon Musk's proposed buyout of Twitter Inc TWTR, Bloomberg reports.
The funding, arranged by Morgan Stanley, will exceed $1 billion and may include Sixth Street Partners, among other firms.
Musk recently bagged $7.1 billion in equity commitments from investors including Larry Ellison, Sequoia Capital, and Qatar.
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Musk convinced Saudi Prince Alwaleed bin Talal to roll his $1.9 billion Twitter stock into the privatized company.
Musk is also trying to convince Twitter co-founder Jack Dorsey to contribute his shares immediately or before the merger's closing.
Previously Musk agreed to buy Twitter for $44 billion and take it private, where he has promised to return free speech and debate.
Musk looks to boost its bottom line and monetize the platform.
Price Action: APO shares closed higher by 1.78% at $50.43 on Tuesday.