Elon Musk has pledged to close his $44-billion Twitter Inc TWTR-N deal by Friday in a video conference call with bankers who are helping fund the deal, Bloomberg News reported on Tuesday, citing people with knowledge of the matter.
Elon Musk’s Twitter takeover: a timeline
The banks have finished putting together the final credit agreement and are in the process of signing the documentation, according to the report, in one of the last steps in moving funds to Musk.
Twitter and Musk’s lawyers were not immediately available for comment.
Musk has pledged to provide $46.5-billion in equity and debt financing for the acquisition, which covers the $44-billion price tag and closing costs.
Banks, including Morgan Stanley and Bank of America Corp, have committed to provide $13-billion of debt financing to support the deal.
Equity investors, including Oracle Corp co-founder Larry Ellison and Saudi Prince Alwaleed bin Talal, will pitch in with $7.1-billion.
Twitter share rose 2.7 per cent to $52.9, closer to Musk’s offer price of $54.20.