According to a newspaper, Tesla boss Elon Musk is ready to use up to $15 billion of his own wealth to buy Twitter.
Musk wants to submit an offer in about ten days, the New York Post reported on Tuesday, citing two people familiar with the process.
According to Forbes, the richest man in the world also approached Morgan Stanley for another ten billion dollars.
Neither Twitter nor Tesla could initially be reached for comment.
Musk made an attempt to buy Twitter last week.
He already holds a good nine percent of the shares and is offering all Twitter shareholders $54.20 per share.
The 50-year-old said he had “technically” the necessary funds to pull off the $40 billion deal.
The key question is whether enough current shareholders are willing to sell their shares at the price being offered.
Twitter is resisting Musk's takeover attempt.
The countermeasure provides that other shareholders can buy additional shares cheaply if a buyer exceeds the 15 percent mark.
The move is a classic "poison pill" that companies threatened by takeovers resort to.
The plan should apply for one year, said the Twitter board of directors.
An exception would be if a deal is approved by the board of directors.