Elon Musk enters Twitter HQ with sink in hand: ‘Let that sink in!’
Oct 27, 2022 - 01:45 AM
WASHINGTON (AA) – Tesla CEO Elon Musk entered Twitter’s headquarters Wednesday with a sink in hand as his deal to purchase the microblogging website nears completion.
“Let that sink in!” Musk tweeted in a post in which he shared the video of his entrance on his personal account. Musk can be heard making remarks in the video but the audio is of very poor quality.
Musk’s entry into Twitter’s headquarters comes as his $44 billion rapidly nears completion. On Monday, he reportedly told bankers who are partially funding the deal that he would have it completed by Friday.
The banks, seven in total, have completed financing preparations on some $13 billion they will set up for the deal, and are signing the necessary documentation to send Musk the cash, Bloomberg News reported. The cash is slated to be held in escrow on Thursday ahead of the agreement’s completion, according to Bloomberg, which cited anonymous sources familiar with the matter.
Morgan Stanley has taken on the bulk of the debt with some 27%, followed by Bank of America, Barclays and MUFG, which are each assuming about 21%. Three other banks have accounted for the remainder
Twitter shares have continued to climb in the aftermath of the media report, and are now sitting at roughly $53.34 per share.
Musk made his original offer to buy Twitter in April but walked it back in July, alleging Twitter violated the original agreement by misrepresenting the number of spam and fake accounts on its platform.
Twitter, in turn, sued Musk to complete the acquisition, accusing the billionaire of using bots as a ploy to walk away from the takeover. Twitter shareholders voted earlier this month in favor of Musk’s original agreement.
Legal proceedings have been ongoing in the US state of Delaware where Chancery Court Judge Kathaleen McCormick has given the parties until 5 p.m. on Friday to close the deal or face a November trial to decide on the outcome.