The signals suggesting that the sale will be signed before the end of the legal ultimatum are multiplying. Twitter stock will be suspended from the New York Stock Exchange on Friday.
The white smoke hasn’t come out yet, but it looks like it. As the ultimatum to finalize Elon Musk’s takeover of Twitter expires on Friday, the elusive entrepreneur is multiplying the signals suggesting that the sale will be completed in due time.
The stakes are high for the boss of Tesla and Space X. If the ink on the contract is not dry by Friday evening, then the two parties will face each other in November in court in Delaware. A perspective that Elon Musk seems to absolutely want to avoid as his trial against Twitter seems so badly started.
On October 4, the multi-billionaire surprised everyone by announcing that he finally wanted to buy the social network at the price agreed six months earlier, or $44 billion. However, he had done everything to have this acquisition cancelled. But Twitter requires strong guarantees. Out of the question that Elon Musk is playing the Californian group again, for example by announcing that he has not succeeded in unlocking the credits necessary for the takeover…
A message to reassure advertisers
However, according to the Wall Street Journal, the banks that have joined forces with the entrepreneur began on Wednesday the transfer of the required funds, ie 13 billion dollars.
On the same day, Elon Musk visited Twitter headquarters in San Francisco in person. A visit staged by the billionaire, who posted on his Twitter account a video of him in the lobby of the company. He also changed his page on the social network, where he introduces himself as “Chief Twit“. The social network informed its employees that Elon Musk would address them on Friday.
Another positive signal: Thursday, at 7 a.m. in California, Elon Musk published a long message on the social network intended to reassure brands. No, Twitter will not becomea hellof free expression whereeverything can be said without consequences“. The network “will adhere to the laws of each country», and will have to «be welcoming to all.» «Twitter aspires to be the world’s most respected advertising platform that will strengthen your brands and help your businesses grow.“, pleads Elon Musk.
Advertising revenue accounts for almost all of the social network’s revenue. It is therefore imperative that the profile of the probable new owner does not scare away advertisers.
Last clue: the New York Stock Exchange announced that Twitter action would be suspended on Friday. Never has the outcome of this soap opera, which has held the media and the business community spellbound since April, seemed so close. The question now is to know at what time the formalization of the takeover will fall. Unless, of course, this saga has one final twist in store.