Elon Musk told bankers that he will purchase Twitter by Friday

October 26, 2022

Share via:

Elon Musk told the banks that are partially funding his $44 billion Twitter acquisition that he plans to close the deal by Friday, a deadline set by a Delaware state court judge, as the world’s wealthiest man finally appears set on purchasing the social network after a very public case of buyer’s remorse, according to Bloomberg.

According to Bloomberg, Musk revealed the news to bankers during a video call on Monday, citing sources close to the deal. The primary financiers are Morgan Stanley, Bank of America, and Barclays, with each committing at least $2.5 billion in debt financing for the transaction. According to Bloomberg, the banks will set aside the funds by Thursday. Musk had until Friday to complete the acquisition or face a trial in Delaware’s Chancery Court as part of the company’s lawsuit to force the deal through.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Previous News

Walmart plans to raise $3 billion for Flipkart at a valuation of $40 billion

Next News

Google fined Rs. 936 crore in second antitrust penalty this month

Editorial Team

StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.