Twitter’s agreement to sell itself for $44 billion to Elon Musk looks shaky — but the deal may be the struggling social network’s only option for a sale as buyout financing dries up amid soaring interest rates and crashing stock prices for tech companies, sources told The Post.
Private equity giant Thoma Bravo — a tech-focused firm which had earlier been in talks with Musk about a possible joint bid for Twitter — is not readying a rival bid in the event that Musk’s $44 billion Twitter takeover is terminated, sources close to the situation said.
As reported by The Post, Orlando Bravo’s firm in early April had expressed interest in buying Twitter, and then later partnering with Musk on his Twitter bid.
But that was several weeks ago, and the leveraged financing market for mega buyouts has since seized up, insiders said. As such, it would be nearly impossible for Thoma Bravo — or any other private-equity firm, for that matter — to raise the junior financing needed to complete a leveraged buyout of Twitter, according to one lending source.
A spokesperson for Thoma Bravo declined to comment.