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Monday, March 20, 2023

Musk Plans to Close Twitter Deal by Friday – Reports

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Elon Musk has pledged to close his $44 billion Twitter acquisition by Friday in a video conference call with bankers who are helping fund the deal, Bloomberg News reported on Tuesday.

The banks have finished putting together the final credit agreement and are in the process of signing the documentation, according to the report, in one of the last steps in moving funds to Musk.

Meanwhile, South Korea’s Mirae Asset Financial Group is planning to commit about 300 billion Korean won ($208 million) to help finance Elon Musk’s $44 billion buyout of Twitter Inc, a person familiar with the matter told Reuters on Monday.

Musk has pledged to provide $46.5 billion in equity and debt financing for the acquisition, which covers the $44 billion price tag and closing costs.

Banks, including Morgan Stanley and Bank of America Corp, have committed to provide $13 billion of debt financing to support the deal.

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