Elon Musk’s long-awaited Twitter acquisition deal is reportedly closing this week. The information was sent to Musk’s bankers in a video conference. According to details from people close to this matter.
The details implied that The only thing that needs to be done is to sign the document. This will be the last step before handing over the money to Musk, according to people familiar with the matter.
According to bank details provided by Elon Musk, the deal will close before the October 28 court deadline, with the debt-management bank receiving a notice of the loan on Tuesday. And the cash is expected to be held in escrow on Thursday.
Banks, including Morgan Stanley, Bank of America and Barclays, will provide the main financing. Each has at least $2.5 billion in loan debt for the deal.
Musk has until Friday to complete the acquisition. Otherwise, he will be forced to face Twitter in a hearing at the Delaware Supreme Court. This is part of the company’s litigation pushing for the deal.
Overall, Musk willget a loan$12.5 billion from the bank The rest of the money will come from his own cash. That increased when he sold tens of billions of dollars worth of Tesla shares.
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