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Apollo Global considers participating in a bid for Twitter
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Apollo Global Management Inc. is considering participating in a bid for Twitter Inc., according to people familiar with the matter, after Elon Musk’s $43 billion bid put the social-media company in play.
APOLLO GLOBAL MGMT
Apollo, one of the world’s largest buyout firms, has held discussions about backing a possible deal for Twitter and could provide Musk or another bidder like private-equity firm Thoma Bravo LP with equity or debt to support an offer, the people said.
Apollo, which owns Yahoo, has also been evaluating potential cooperation between the online-media company and Twitter, the people said. There is no guarantee Twitter would be receptive to that, or any other deal.
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Twitter is expected to rebuff Musk’s offer in the coming days, some of the people said. The company is set to report earnings April 28 and may detail its stance then.
Either way, Apollo’s interest adds to a list of Wall Street heavyweights, including Morgan Stanley, lined up to support a deal for Twitter, which despite the popularity of its platform has struggled to grow.