Topline
Elon Musk all however confirmed on Wednesday that his $44 billion acquisition of Twitter will certainly undergo, sharing the information with a joke video on the social media platform.
Twitter’s San Francisco headquarters acquired a shock visitor Wednesday.
Key Details
Musk first modified his Twitter bio to “Chief Twit,” an obvious nod to studies he’ll comply with by way of together with his acquisition by Friday’s court-mandated deadline—if he and Twitter don’t attain an settlement by then, they may face off at trial in Delaware.
An hour later, Musk tweeted a video of him at Twitter’s San Francisco headquarters carrying a sink, captioning the video, “Getting into Twitter HQ – let that sink in!”
The world’s richest man will tackle Twitter staff instantly Friday, in line with a memo despatched to employees considered by Bloomberg.
Twitter declined remark to Forbes.
Key Background
Musk’s look at Twitter headquarters is the newest and most definitive information indicating the deal will shut on the $54.20-per-share buy phrases. Earlier this week, Musk advised the banks offering him with debt financing he’ll full his acquisition on the unique phrases, Bloomberg reported Tuesday. The co-head of mergers and acquisitions at JP Morgan, one in every of Twitter’s advisors, mentioned Wednesday he believes the deal will undergo easily. Twitter accepted Musk’s bid to take the corporate non-public in April earlier than Musk lobbied to again out from the deal, main Twitter to sue him and setting the stage for an October trial to find out if the deal would undergo. The trial was postponed after Musk wrote to the corporate he’d transfer ahead with the deal October 3.
Shocking Reality
Musk plans to chop three-fourths of Twitter’s employees, in accordance to paperwork considered by the Washington Submit.
Huge Quantity
26%. That’s how a lot Twitter shares are up since Musk’s letter agreeing to comply with by way of with the deal went public. Twitter’s inventory rose 1% to $53.37 Wednesday.
Additional Studying
Elon Musk Reportedly Tells Bankers He’ll Purchase Twitter By Friday Deadline (Forbes)
