Elon Musk revealed on Thursday that he has the financial backing for his $46 billion Twitter takeover proposal and was exploring whether to launch a hostile takeover of the social media platform.

In a Securities and Exchange Commission filings, Musk noted that he planned to finance the bid with a mix of debt and cash, according to The New York Times report.

In addition, the investment bank Morgan Stanley and a group of other lenders are offering $13 billion in debt financing, with $12.5 billion in loans against Musk's stock in Tesla. Musk is also seen to add around $21 billion in equity financing.

Twitter has not directly addressed Musk's offer, which was initially announced at $43 billion. However, it recently approved a temporary "poison pill" measure to discourage hostile takeovers, according to an Engadget report.

A Twitter spokesperson told the media outlet that the company has received the Tesla CEO's updated proposal. However, it is still conducting a "careful, comprehensive and deliberate review" of the offer.

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Elon Musk Twitter Takeover Plans

Twitter shareholder, Saudi Prince Al Waleed bin Talal, called Musk's offer insufficient. It was shortly followed by the enforcement of poison pill, according to a CBS News report.

Musk said in a filing that he is exploring whether to commence a tender offer, with the lack of response by Twitter.

The Tesla tycoon started buying Twitter stock in February and has become the company's biggest shareholder this month. Musk noted that he aims to make the company private and has "no confidence in its current management." He said in his offer letter last week that the social media platform has "extraordinary potential" and that he will "unlock it."

Ryan Jacob, chief investment officer at Jacob Asset Management, said that Musk's latest filing would prompt Twitter's board to respond. Jacob currently holds Twitter shares, according to a Reuters report.

He said that Twitter had to consider the seriousness of the offer, and Musk's filing may do just that. Jacob added that it will be hard for the social media company to ignore it.

Apollo Global Management Inc. is considering ways it can provide financing to any deal and is open to working with Musk or any other bidder.

Meanwhile, Thoma Bravo has informed Twitter that it is exploring the possibility of setting up a bid.

Steven Davidoff Solomon, a professor at the School of Law at the University of California, Berkeley, said that the recent filing is serious and that Musk is getting more professional about it.

Solomon said that one does not do that "unless you're going to launch an offer."

Other banks offering to lend Musk include Bank of America, BofA Securities, Barclays, MUFG, BNPP, and Mizuho.

Drew Pascarella, a senior lecturer of finance at Cornell University, noted that many senior people at Morgan Stanley are responsible for the brand. Pascarella added that Morgan Stanley would not allow it to happen unless "there was some level of seriousness behind it."

READ MORE: Twitter Net Worth 2022: How Much Is Twitter Valued After Elon Musk Made $43 Billion Offer?

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Written by Mary Webber

WATCH: Elon Musk Isn't the First to Want to Buy Twitter | WSJ - from Wall Street Journal