Twitter’s $44 billion acquisition by Elon Musk is set to close on the Friday deadline after the latter confirmed his plan on a video call with his advisers, according to some reports.
Musk’s lawyers are also understood to have sent paperwork to equity investors in the deal. A syndicate of banks led by Morgan Stanley is providing $13 billion in debt financing for the deal, while equity investors are chipping in at least $7 billion.
The billionaire Tesla CEO has until 5 p.m. ET on Friday to close the acquisition or face a trial that was previously delayed to allow both parties to close the deal.
The social media platform’s shares were up over 1% in Frankfurt on Tuesday’s close.
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