Billionaire Elon Musk is expected to close the Twitter acquisition deal by Friday, as per a report by Bloomberg News. The report mentions that Musk has already informed of his intent to co-investors and the infamous Twitter buyout is now expected to close. The execution of the deal is expected to happen via a video conference call with bankers who are also helping fund this Twitter deal.
The Twitter deal acquisition report by Bloomberg News also mentions that the banks have finished putting together the final credit agreement. Now, they are also in the process of signing the documentation in order close the deal soon.
As this Twitter deal reaches next stage, South Korea’s Mirae Asset Financial Group is reportedly planning to commit about 300 billion Korean won in order to help finance this Twitter buyout by Elon Musk, the Economic Times reported Reuters, citing a person familiar with the matter.
The report also added that this deal with Mirae is expected to be finalised in the coming days as the deadline for closing the Twitter deal is almost here.
Elon Musk has agreed to provide $46.5 billion in equity and debt financing for this Twitter acquisition. Apart from this, banks like Morgan Stanley and Bank of America Corp., have reportedly pledged to provide $13 billion of debt financing. Even equity investors like Oracle Corp co-founder Larry Ellison and Saudi Prince Alwaleed bin Talal will pitch in with $7.1 billion, as per the Economic Times report.
