Musk, the world's richest person, visited Twitter's
headquarters in San Francisco on Wednesday and hinted he was the company's top
boss after updating his profile bio to "Chief Twit". The deal's
completion would mark an end to a lawsuit by Twitter, which, along with
investors, now expects the deal to be completed on its original terms of $54.20
per share.
Reuters reported on Tuesday that equity investors, including
Sequoia Capital, Binance, Qatar Investment Authority and others, had received
the requisite paperwork for the financing commitment from Musk's lawyers.
The company's stock closed at $53.35 on the NYSE on
Wednesday. They were up about 1 percent at $53.90 in extended trading, slightly below Musk's
offer price.
Hours earlier, he hinted at being the company's top boss
after updating his profile's bio to "Chief Twit".
Banks have started to send $13 billion in cash backing
Musk's takeover of Twitter in a sign that the deal is on track to close by the
end of the week, the Wall Street Journal reported, citing people familiar with
the matter.
Once final closing conditions are met, the funds will be
made available for Musk to execute the transaction by the Friday deadline, the
report added.
Bank of America and Barclays declined to comment on the
report when contacted by Reuters, while Morgan Stanley did not immediately
respond to a request for comment.
In the six months of a dramatic back-and-forth since Musk
announced his $54.20 per share bid, Twitter initially resisted the deal by
adopting a poison pill and later sued the world's richest man after he
announced plans to abandon the offer on concerns about spam accounts on the
platform. © Reuters
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