Is Apollo Management considering a bid for Twitter?


Ruchi Gupta

Apr 20, 2022

Apollo Management is considering making a bid for Twitter at the back of Musk’s $43 billion offer.

Musk had offered $53.2 per share to acquire Twitter.

Thoma Bravo and Morgan Stanley are among firms thought to support the acquisition.

Apollo Global Management Inc. (NYSE: APO) is pondering the possibility of bidding for Twitter Inc. (NYSE: TWTR) following Tesla CEO Elon Musk’s $43 billion offer to acquire the social media company.

Apollo Management joins the race to buy Twitter

According to people familiar with the issue, Apollo, which is one of the largest buyout companies globally, has held talks about the possibility of backing a potential bid for Twitter. The Wall Street Journal reported that the people indicated that Apollo might offer Musk or any other bidders such as Thoma Bravo LP with debt or equity to support the acquisition.

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The people indicated that Apollo, which operates Yahoo, has been looking into possible collaboration between the internet business and Twitter. However, there’s no guarantee that Twitter will accept it or another offer. Several sources indicate that Twitter is anticipated to reject Musk’s proposal in the days ahead. The corporation is expected to release earnings results on April 28 and could discuss its stance at that time.

In any case, Apollo’s interest joins a slew of Wall Street heavyweights, such as Morgan Stanley, who have queued to back a purchase for Twitter, which has struggled to expand despite its platform’s popularity. People familiar with the issue confirmed last week that private equity companies such as Thoma Bravo have been circling the social media company following Musk’s surprise bid.

Musk had offered $53.2 per share to acquire Twitter

The WSJ reported no guarantees that any private equity company will end up marking a strong offer and whether it is for the whole company or part of it. Taking a social-media company private could be one of the greatest leveraged buyouts in history, even though Twitter lacks the characteristics of a classic LBO target, such as solid, consistent cash flow.

Musk had offered $54.2 per Twitter share, but there is scant detail regarding how he planned to fund the proposal. However, The Wall Street Journal indicated that he could get some debt financing from Morgan Stanley, and some unnamed investors looking to participate in the takeover approached the billionaire.

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