SAN FRANCISO: Billionaire Elon Musk is expected to close the Twitter acquisition deal by Friday, a report said. According to the reports, Musk has notified co-investors who committed to help fund his $44 billion acquisition of Twitter Inc that he plans to close his buyout of the social media firm by Friday.
The execution of the deal is expected to happen via a video conference call with bankers who are also helping fund this Twitter deal on Monday. Sources familar with the processes also mentioned that the banks have finished putting together the final credit agreement. And have begun the process of signing the documentation with equity investors, including Sequoia Capital, Binance, Qatar Investment Authority and others in order close the deal soon.
Twitter declined to comment. Musk’s lawyers were not immediately available for comment.
The Tesla chief has pledged to provide $46.5 billion in equity and debt financing for the acquisition, which covers the $44 billion price tag and closing costs. Banks, including Morgan Stanley and Bank of America Corp, have committed to provide $13 billion of debt financing to support the deal.