Tesla leader Elon Musk indicated today that he has secured close to $46.5 billion to finance the purchase of Twitter and is trying to negotiate a deal for the acquisition.

In a document filed with the US stock market regulator, Musk states that he has already reached a commitment with JPM organ bank to take out two loans, one for $13 billion and another for $12.5 billion.

The billionaire also plans to channel $21 billion of his personal fortune into the operation.

Twitter's Board of Directors opposed the acquisition, approving a clause to make it more difficult to do so.

The head of Tesla and SpaceX did not confirm whether he will resort to a hostile takeover bid, but said there is a possibility.

Last week, Musk proposed to acquire Twitter by paying $54.20 per share, shortly after he went public with a stake of more than 9%, becoming a major shareholder in the social network.

Twitter made him an offer to join the Board of Directors, but the multi-millionaire turned it down.

Earlier in the session on Wall Street, Twitter shares were down slightly to $46.69.

Source: News to the Minute