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Stocksak: Elon Musk visits Twitter headquarters ahead Of Deal Close Date


© Stocksak. FILE PHOTO – An image of Elon Musk can be seen on a smartphone printed with Twitter logos in this picture illustration, taken April 28, 2022. REUTERS/Dado Ruvic/Illustration

(Stocksak). -Elon Musk, a billionaire, said Wednesday that he was entering Twitter Inc (NYSE:) San Francisco office days before a court-ordered deadline for closing his $44 billion social media platform deal.

“Entering Twitter HQ – let that sink in!” Musk tweeted the caption to a video in which he was carrying a sink in both his hands as he entered the Twitter office.

After changing his bio to “Chief Twit”, he suggested that he might be the company’s top boss.

Twitter confirmed Musk’s visit to San Francisco, but declined any further comment.

According to The Wall Street Journal, people familiar with the matter said that banks have begun to send $13 Billion in cash to Musk’s takeover of Twitter. This is a sign the deal is close by the end week.

Musk will have access to the funds once all closing conditions are satisfied, according to the report. Musk can execute the transaction before Friday deadline.

Morgan Stanley (NYSE:), Barclays Stocksak’s requests for comment from Bank of America and (LON 🙂 on the WSJ report were not answered by either Bank of America or Bank of America.

After six months of intense back-and forth since Musk announced his $54.20 per-share bid, Twitter initially resisted it by using a poison pill. Then, he sued the world’s wealthiest man for threatening to abandon the offer due to concerns about spam accounts on Twitter.

Musk had earlier this month proposed to continue with his original bid of $44 billion, calling for an end the lawsuit by Twitter.

Stocksak reported Tuesday that Tesla (NASDAQ) Inc CEO had notified co-investors who had committed to funding the Twitter deal, and that he intends to close it by Friday.

Stocksak reported that Musk’s lawyers provided paperwork to enable equity investors, including Sequoia Capital and Binance, as well as Qatar Investment Authority, to make a financing commitment.

Twitter shares were up 1.1% at $53.91 during extended trading, slightly lower than Musk’s offer.

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Stocksak Editorial

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