Bloomberg cited insiders. Bankers are said to have helped finance the $44 billion deal.
The banks that will provide the $13 billion loan only need to fulfill the final formalities before the money is released for Musk. The tech billionaire himself and Twitter initially did not comment. The transaction must be completed by 17:00 local time this Friday (23:00 CEST) or the deal, which has been disputed for months, will ultimately end in court.
Musk agreed to take over with Twitter in April. But in July, it dissolved the deal after the company allegedly made false statements regarding fake accounts. Twitter has sued to comply with the purchase agreement, and a court case is scheduled to resolve the dispute. At the beginning of October, Musk surprisingly renewed his buyout offer.
However, he stipulated the outcome of the case, whose chances were considered relatively slim. Twitter denied this. The company was skeptical because Musk made his offer conditional on financing. The judge eventually suspended the proceedings, but set a deadline of October 28 – if the deal isn’t done by then, a lawsuit will be filed.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
