Private equity giant Apollo Global Management is reportedly interested in making a bid for Twitter in the wake of Tesla CEO Elon Musk’s $43 billion offer.

                By                    Yaёl Bizouati-Kennedy

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Apollo has held discussions about backing a possible deal for Twitter and could provide Musk or another bidder — such as private-equity firm Thoma Bravo LP — with equity or debt to support an offer, The Wall Street Journal reported. However, CNBC reported that Apollo isn’t interested in being part of a private equity consortium that would acquire the social media company, and that any financing Apollo provides would likely come in the form of preferred equity. 

Apollo, which has roughly $500 billion of assets under management and owns Yahoo, has also been evaluating potential cooperation between the online-media company and Twitter, The Wall Street Journal added.  

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Twitter is expected to reject Musk’s offer in the coming days, and a more detailed stance on the matter is expected on April 28, when the company is set to report earnings. Twitter was up 7.5% on April 18 and was up 0.1% in pre-market trading on April 19.

In an anticipated move, on April 15, Twitter’s board adopted a “poison pill” to counter Elon Musk’s bid for the social media platform — a “rights plan” intended to “enable all shareholders to realize the full value of their investment in Twitter.”

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The richest man on the planet had offered to buy Twitter on April 14 for $54.20 per share in cash, “a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced,” according to a note included in a filing with the Securities and Exchange Commission (SEC).

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