UNITED STATES: Elon Musk visited Twitter’s San Francisco office, indicating he’s on track to finalise his historic $44 billion deal to acquire the company.
On Wednesday, days ahead of a court-ordered deadline to close his blockbuster deal with the social media platform, he posted a video in which he was seen entering the Twitter office with a “kitchen sink” in his hand.
“Entering Twitter HQ – let that sink in!” reads the video’s caption. He also mentioned his meeting by tweeting, “Meeting a lot of cool people at Twitter today!”
Hours earlier, he updated his Twitter profile bio to “Chief Twit,” hinting at being the company’s top boss.
Twitter, the social media platform, needs major changes, says Musk. His plan to reduce the workforce at Twitter was earlier mentioned in a report.
Although the Tesla CEO put his location as the Twitter corporate offices in San Francisco on social media, his meeting with Twitter executives on Wednesday was unclear.
Meanwhile, mentioning Twitter’s empowering of citizen journalism, he wrote, “A beautiful thing about Twitter is how it empowers citizen journalism—people are able to disseminate news without an establishment bias.”
Banks have begun transferring $13 billion in cash to support Musk’s acquisition of Twitter, indicating that the transaction will close by the end of the week, as reported by the Wall Street Journal, which cited people familiar with the situation.
The article further stated that Musk will have access to the funds once all closing requirements are satisfied to complete the transaction by the Friday deadline.
When approached, Bank of America, Barclays, and Morgan Stanley all declined to comment on the report. However, Morgan Stanley did not answer right away.
Twitter initially resisted the deal by implementing a poison pill, and later sued the richest man in the world after he announced plans to abandon the offer due to concerns about spam accounts on the platform. This dramatic back-and-forth has lasted six months, starting when Musk announced his $54.20 per share bid.
To end Twitter’s lawsuit, Musk earlier this month suggested moving forward with his original $44 billion offer.
As reported by a source on Tuesday, the CEO of Tesla Inc. (TSLA.O) informed co-investors who had agreed to help fund the Twitter acquisition that he intended to conclude it by Friday.
Musk’s attorneys have provided the necessary papers for the financing pledge to equity investors Sequoia Capital, Binance, Qatar Investment Authority, and others, as per the source.
In extended trading, the Twitter stock was up around 1.1% at $53.91—a little less than Musk’s bid price.
Also Read: Elon Musk Plans to Lay off 75% of Twitter’s Staff
