Twitter (NYSE:TWTR)
Alongside the announcement that Elon Musk has advanced on a takeover in two significant areas, shares of Twitter (NYSE:TWTR) have skyrocketed to a gain of 2.7%.
According to CNBC, Musk’s attorneys have sent the necessary documentation to equity investors to be ready to close the $44 billion take-private deal. And Musk has kicked things off with his debt investors, telling them to be ready for a Friday closing on their positions.
As the Twitter stock price climbs, Tesla’s (NASDAQ:TSLA) stock is falling; selling Tesla stock was likely the easiest way for Musk to obtain around $30 billion of his own money to consummate the transaction on Twitter by the deadline of October 28.
According to Bloomberg’s story, Elon Musk informed a video conference of his bankers on Monday that he would close by Friday. The bankers are backing around $13 billion in debt financing. Those bankers have completed putting the finishing touches on the loan deal.
Reportedly, Musk also informed the bankers that if the purchase of Twitter stock was finalized, he would assist in marketing the debt. This was a significant factor for the banks as they prepared to maintain that substantial debt on their books following the turn in the credit markets.
It is just 2% lower than Musk’s purchase price of $54.20 per share of Twitter stock reached its session high of $53.16.
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The share price of Twitter rose by 3% when it was reported that Elon Musk’s debt and equity partners had been ordered to prepare for close.
Featured Image – Megapixl © Mohammedsoliman4
Author Shariq Khan 
