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26 October 2022 | Other

Musk plans to close the Twitter deal by Friday

Tesla Inc

According to Reuters, Elon Musk plans to close the deal of acquiring Twitter Inc by Friday, as he informed his co-investors, who provide funding of this purchase. The social network’s acquisition will cost Musk $44 billion.

The businessman’s co-investors, including Sequoia Capital, Binance, Qatar Investment Authority, and some others, received all the necessary legal documents for fulfilling their financial obligations. This move from Musk demonstrates his intention to adhere to ending the deal until the deadline established by the Delaware Court.

As stated by Bloomberg News, banks participating in the Twitter’s acquisition have already prepared final agreements on debt financing, and now they are signing all the required documents.

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