– With a still unsolved court case and some second thoughts later, the tech billionaire wants to get to work. His Twitter deal is expected to be concluded by the end of the week, US media reports.
According to US media, Elon Musk wants to complete the acquisition of the online Twitter network by the court-imposed deadline on Friday. The Tesla boss assured this in a video conference with bankers who are helping finance the $ 44 billion deal, Bloomberg financial service reported, citing insiders.
The banks, which have to provide $ 13 billion in loans, only have to go through the final formalities before the money is released for Musk. The tech billionaire himself and Twitter initially did not comment. The transaction must be completed by 5pm local time (11pm CEST) this Friday, otherwise the deal, which has been controversial for months, will end up in court after all.
Moss has conditions
Musk had actually agreed to the acquisition with Twitter in April. In July, however, he canceled the deal over the company’s alleged misrepresentation of fake accounts. Twitter is suing for compliance with the purchase agreement and a judicial proceeding has been scheduled to resolve the dispute. In early October, Musk surprisingly renewed his buy offer.
However, he made it a condition that the court case – in which his chances were considered relatively poor – be resolved. Twitter rejected this. The company was suspicious because Musk made his offer conditional on financing. The judge eventually suspended the proceedings, but imposed a deadline of October 28: if the deal is not closed, there will be a trial.
