The bank began to release $13 billion to support Musk's acquisition of Twitter

CTOnews.com, October 27 (Xinhua)-- according to the Wall Street Journal, the bank has begun to release $13 billion (about 93.34 billion yuan) in support of the acquisition of Twitter by Tesla CEO Elon Musk (Elon Musk).

CTOnews.com learned that in April, Musk offered to buy Twitter for $54.20 a share. After months of twists and turns, this is the latest sign that the $44 billion (315.92 billion yuan) acquisition is expected to be completed by the end of the week.

On Tuesday, local time, Mr Musk issued a loan notice to the bank that agreed to finance his acquisition of Twitter, one of the people familiar with the matter said. The bank will deposit the promised funds in an escrow account after finalizing the final details of the debt contract, according to people familiar with the matter.

Once the conditions for completing the deal are finally met, Mr Musk will be able to withdraw the funds and execute the deal by the Friday deadline local time.