Shulou(Shulou.com)11/24 Report--

Beijing, Oct. 26 (Xinhua) Musk has told the partners who helped raise money that he plans to complete the acquisition of Twitter by Friday, according to a person familiar with the matter.

Sequoia Capital, Binance, Qatar Investment Authority (Qatar Investment Authority) and other partners have received financing commitment documents from Musk lawyers. The news means that Musk will comply with the Delaware judge's order to complete the deal by Friday.

The banks that funded the acquisition have completed the final financing agreement and are in the process of signing the necessary documents. Mr. Musk held a video conference on Monday with bankers who helped raise money, and he promised to complete the acquisition.

On the news, Twitter shares rose 3% on Tuesday to $52.95, close to Musk's offer price of $54.20.

To complete the acquisition, Musk will raise $46.5 billion through equity and debt. Morgan Stanley and Bank of America have pledged $13 billion in debt financing to support the acquisition, while equity investors Oracle CEO Ellison and Prince Alwaleed of Saudi Arabia Alwaleed bin Talal will provide $7.1 billion.

There has been speculation that Musk might give up the acquisition, but now it is a foregone conclusion.

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