Elon Musk to complete $44 billion Twitter purchase in two days

Reuters reports that Twitter will receive a new owner before the end of the current work week. American

Billionaire Elon Musk will complete the purchase of the company by October 28.

What is known

According to the Reuters news agency,lawyers for the head of Tesla and SpaceX have already notified major investors about this. Among them are the sovereign fund Qatar Investment Authority, the Binance cryptocurrency exchange and the venture capital fund Sequoia Capital.

On October 24, Elon Musk held a video conference withbanking community and confirmed the seriousness of his intentions regarding the purchase of Twitter. The cost of the transaction will be $44 billion ($54.2 per share). To buy Twitter, the American billionaire received $ 13 billion in credit funds. About $7 billion more was raised by private investors, including Larry Ellison, founder of startup Oracle.

After Elon Musk confirmed the readinessclose the deal with Twitter before Friday, October 28, the company's shares rose to $52.85 (+3%). The buyout price at $54.2 was announced in mid-spring.