Elon Musk could finally complete the takeover of Twitter on October 28, 2022

The great soap opera of the summer between Elon Musk and Twitter could end this Friday. During a call with the banks that are helping him finance the project, the billionaire assured that the deal could be concluded at the end of the week. The papers would already be signed and the money is just waiting to be sent to its recipient.

Everything obviously went very quickly after Elon Musk’s surprise reversal earlier this month. While it’s only been a few weeks since he finally reconsidered his decision and decided to indeed buy Twitter (gossips will say that the billionaire hopes to escape the trial in this way), our colleagues from Bloomberg report today that the deal will be finalized as of this Friday, October 28.

An anonymous source familiar with the matter explains that Elon Musk and the various banks that are helping him finance the deal met for a videoconference last Monday, during which the businessman said that everything is in place for the redemption. In other words, he is only waiting to receive the $13 billion promised by the banks, out of the $44 billion of the total amount, to finally become the owner of Twitter.

Related: Elon Musk Plans to Fire 75% of Twitter Employees After Takeover

The documents are signed, Elon Musk is almost ready to buy Twitter

Following which, this Tuesday, October 25, Elon Musk would have sent the last documents to the banks in question to record the loan of 13 billion dollars. It now remains to wait to receive the said sum, which, according to Bloomberg, should be done tomorrow, Thursday, October 27. Following which, the transfer to Twitter may have the next day, and Elon Musk will spend the weekend as the boss of the social network.

Ironically, Twitter’s stock soared to $53.18 following this leak, almost the amount that Elon Musk is ready to pay to buy the company, namely 54.20 dollars per share, which is usually particularly generous. For their part, the banks have every interest in concluding the transaction as quickly as possible. As things stand, they will already lose $500 million in the process.

Source: Bloomberg

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