Banks transact $13 billion in cash for Elon Musk's twitter takeover: Report | World News - Hindustan Times
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Banks transact $13 billion in cash for Elon Musk's twitter takeover: Report

Oct 27, 2022 06:06 PM IST

Elon Musk Twitter Deal: Elon Musk formally started the $44 billion buyout of Twitter by sending borrowing notifications to banks, a report said.

Banks that vowed to back Elon Musk's Twitter deal have begun disbursing a combined $13 billion, reports said, just a few hours after the Tesla chief visited Twitter's headquarters in San Francisco, California.

Elon Musk Twitter Deal: Elon Musk is fulfilling his deal with Twitter. (Reuters)
Elon Musk Twitter Deal: Elon Musk is fulfilling his deal with Twitter. (Reuters)

Elon Musk formally started the $44 billion buyout of Twitter by sending borrowing notifications to banks, the Wall Street Journal reported.

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Banks have begun delivering funds for the acquisition, the report said, sparking speculation that the sale will be closed soon. Elon Musk will have access to the money after the last loan contract closing requirements are satisfied.

Twitter told its employees that they will hear a word directly from Elon Musk on Friday regarding the acquisition, the outlet reported.

Earlier, Elon Musk shared a video of his visit to Twitter's headquarters as he cheerfully walked into the Twitter office carrying a bathroom sink. "Let it sink in," he wrote posting the clip.

Elon Musk also listed "Twitter HQ" as his location and modified his bio to "Chief Twit." He said that he would be meeting "a lot of cool people" at the headquarters.

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