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Elon Musk to close Twitter deal Friday

Why I am buying Twitter - Elon Musk
Elon Musk

Telsa CEO, Elon Musk will reportedly close Twitter’s $46.5 billion in equity and debt financing acquisition deal by Friday.

According to Bloomberg, Elon Musk has disclosed his intent to close the deal on the infamous Twitter buyout to his unnamed co-investor.

The deal will be finalised via a video conference call with bankers who are also helping to fund the Twitter deal.

The banks have also finished putting together the final credit agreement, and they are in the process of signing the documentation to close the deal soon.

However, the Economic Times told Reuters that South Korea’s Mirae Asset Financial Group is reportedly planning to commit about 300 billion Korean won to help finance this Twitter buyout by Elon Musk,

The report also added that this deal with Mirae is expected to be finalised in the coming days as the deadline for closing the Twitter deal is almost here.

Banks like Morgan Stanley and Bank of America Corp., have also reportedly pledged to provide $13 billion of debt financing. Even equity investors like Oracle Corp co-founder Larry Ellison and Saudi Prince Alwaleed bin Talal will pitch in with $7.1 billion, as per the Economic Times report.

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