Elon Musk Plans To Close The Twitter Deal On October 28

Elon Musk promised to complete the Twitter acquisition by the end of October 28 in a video conference with the funding bank on October 24. The banks provided a total of $13 billion in debt financing for the deal, which has been completed. The final credit agreement is being drafted and is currently at the stage of signing the documents.

Elon Musk pledged on Monday to wrap up its acquisition of Twitter Inc. on October 28 during a video conference call with bankers helping fund the deal, according to people with knowledge of the matter.

The source said investors including Sequoia Capital, Binance, Qatar Investment Authority and others have received the necessary paperwork for the funding pledge from Musk’s lawyers.

One of the final steps before actually sending the money to Elon Musk, banks are providing $13 billion in debt, have completed a final credit agreement and are in the process of signing documents, a in the final steps before actually sending the money to Musk. named discuss a private transaction.

The move is the clearest sign yet that Elon Musk plans to comply with the Delaware court judge’s deadline for completing the transaction of October 28.

Twitter stock jumped on the news and is trading up 3% at $52.95 on Tuesday, close to Musk’s suggested price of $54.20. Currently trading at $52.78.

During the conference call, Musk also promised to help banks sell bonds to fund managers once the deal closes, people familiar with the matter said.

Lawyers for Elon Musk and Twitter declined to comment on the report, while Musk’s representatives did not respond to a request for comment.

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