All the banks that have agreed to release funds to Elon Musk for the Twitter deal have completed the final debt financing agreement. According to the Bloomberg News report, all these banks are in the final process of signing the necessary documents.
Tesla Motors CEO Elon Musk until Friday twitter deal can be completed. Musk has informed his co-investors about the purchase of micro-blogging platform Twitter. These investors have assured to help Musk in this $ 44 billion deal. The purchase of Twitter can be completed by Friday. ‘Reuters’ has given this information in a report.
Companies such as equity investors Sequoia Capital, Binance, Qatar Investment Authority have been given paperwork related work from Musk’s finance committee. This suggests that the Twitter purchase deal may be completed soon. The possibility that the purchase will be completed soon is also likely because a Delaware court judge has given Musk time to complete the transaction by Friday.
Deal preparations intensified
All the banks that have agreed to release funds to Elon Musk for the Twitter deal have completed the final debt financing agreement. According to the Bloomberg News report, all these banks are in the final process of signing the necessary documents. Tesla CEO Elon Musk in a video call with bankers on Monday talked about completing the Twitter deal soon. This meeting was with the bankers who are going to help Musk financially in the Twitter purchase.
Twitter shares jump
After this news, there was a tremendous jump in the shares of Twitter and after a 3 percent increase on Tuesday, trading reached $ 52.95. This trading is close to Musk’s offer price of $ 54.20. Musk has signed a deal to buy Twitter for $ 44 billion and Twitter is ready to sell on this deal. Musk will use equity and debt financing to buy Twitter.
Big investors will fund
To complete this deal, Morgan Stanley and Bank of America have assured debt financing of $ 13 billion. Similar equity investors Oracle Corporation co-founder Larry Ellison and Saudi Prince Alwaleed bin Talal will finance $7.1 billion. After the Twitter deal is done, all those speculations will be put to an end, in which it is being said that Musk can also back away from it. Recently he had said that he can back out from this deal.
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