Elon Musk visits Twitter headquarters ahead of $44B acquisition deadline
Tesla chief executive has until Oct. 28 to close the $44B buyout
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Elon Musk arrived at Twitter's headquarters ahead of Friday's court-imposed deadline to close his $44 billion acquisition of the social media giant.
The Tesla chief executive posted a video to his Twitter account on Wednesday showing him carrying a sink into the building with the caption "Entering Twitter HQ – let that sink in!"
In addition, Musk changed his Twitter bio to "Chief Twit."
Elon Musk has changed his Twitter profile description to "Chief Twit" ahead of Friday's court-imposed deadline to close his $44 billion acquisition of the social media giant. (Elon Musk via Twitter / Fox News)
Leslie Berland, Twitter’s chief marketing officer and head of people, sent a memo to employees on Wednesday notifying them of Musk's plans to visit, according to Bloomberg. Musk is reportedly set to address staff during a meeting on Friday.
ELON MUSK PLEDGES TO CLOSE TWITTER ACQUISITION BY OCT. 28 DEADLINE
The Delaware Court of Chancery has given Musk until Oct. 28 to close the deal with Twitter. If the parties cannot reach an agreement, a legal trial related to Musk's previous efforts to walk away from the deal will be scheduled for November.
Twitter Inc.
A source familiar with the matter confirmed to FOX Business that meetings between the two parties are underway.
A spokesperson for Twitter declined to comment. A representative for Musk did not immediately return FOX Business' request for comment.
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On Wednesday, Bloomberg reported that Musk told bankers providing $12.5 billion in debt financing for the deal that it will close by the Friday deadline. Banks backing the deal include Morgan Stanley, Bank of America and Barclays.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | NO DATA AVAILABLE | - | - | - |
Additionally, CNBC's David Faber tweeted that the deal's equity investors have received paperwork from Musk's lawyers to prepare for the deal's closing. The equity investors include Oracle co-founder Larry Ellison, cryptocurrency exchange Binance, Sequoia Capital, VyCapital, Andreessen Horowitz Capital Management, Qatar Holding and Brookfield Asset Management.
Twitter stock is up 25% year to date.