FedEx Establishes Direct Presence in Nigeria to Support Customers with International TradeRead more Open Society Foundations (OSF) Award $1.1 Million Grant to Afrobarometer to Spur Future GrowthRead more The annual Global Impact Conference 2022 brings together visionary business leaders to revolutionize educational systems and inspire collaborative actionRead more APO Group announces content partnership with Pan-African broadcaster VoxAfricaRead more MainOne, an Equinix Company’s MDXi Appolonia Achieves Tier III Constructed Facility certification (TCCF), Now Most Certified Data Center in GhanaRead more United Nations High Commissioner for Refugees (UNHCR) warns rising tide of hunger, insecurity, and underfunding worsening gender-based violence risksRead more The Royal Thai Embassy presents the cultures of Thailand at the Association of Southeast Asian Nations (ASEAN) Festival in KenyaRead more Climate change is the biggest global threat, young people in Africa and Europe tell European Investment Bank (EIB), Debating Africa and Debating EuropeRead more $2 million in prizes awarded at Conference of the Parties (COP27) to African youth-led businessesRead more Africa and Europe’s top business and public sector leaders gather to chart Africa’s economic rebirthRead more

Elon Musk enters Twitter HQ with sink in hand: ‘Let that sink in!’

show caption
SAN FRANCISCO, CA - Twitter Headquarters is seen in San Francisco, California, United States on October 5, 2022. (Tayfun Coşkun - Anadolu Agency)
Print Friendly and PDF

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.

MAORANDCITIES.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.