Elon Musk has notified investors who have pledged to help finance the $44 billion purchase of Twitter that it intends to complete the transaction by Friday, a source with knowledge of the matter said.
Investors such as Sequoia, Binance, the Qatar Investment Authority and others received documentation for the funding commitment from the businessman’s lawyers, the source said.
The information is the clearest sign yet that the billionaire plans to meet the deadline given by a US judge to complete the purchase of the social network.
Twitter did not comment on the matter, and representatives for Musk were unavailable for comment.
Twitter shares closed up 2.4% on Tuesday (25), at US$ 52.78, amid expectations about the conclusion of the deal. The price agreed to buy the company is $54.20 per share.
Musk has pledged to provide $46.5 billion through assets and debt issuance, enough to cover the $44 billion price tag of the deal plus acquisition costs.
Banks including Morgan Stanley and Bank of America have committed to provide $13 billion of debt financing for the deal. In addition, investors such as Oracle co-founder Larry Ellison and Saudi prince Alwaleed bin Talal will inject $7.1 billion into the transaction.
The closing of the acquisition will put an end to months of speculation about whether Elon Musk would in fact leave Twitter after he agreed to buy the company earlier this year.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
