By Millie Turner
Elon Musk’s contested $44bn bid for Twitter could reportedly close as soon as Friday.
Musk, currently the world’s richest man, is reported to have promised bankers on a video call that the deal would be wrapped up before the end of the week, Bloomberg reported, citing people familiar with the matter.
Equity investors, including Sequoia Capital, Binance, Qatar Investment Authority, have received the paperwork for the financing commitment from Musk’s lawyers, the report added.
The banks, which include Morgan Stanley and Bank of America, are reported to be in the process of signing the documents for the debt-financing agreement.
The deal was on the rocks for several months. In July, the eccentric billionaire backed out of the takeover, saying Twitter failed to provide enough information on the number of spam and fake accounts on the social media platform.
However, a US judge has since given the eccentric billionaire until 28 October to close the deal or face trial.
The post Elon Musk’s $44bn Twitter takeover to close on Friday appeared first on CityAM.
