Elon Musk visits Twitter headquarters ahead of deal close deadline

Posted on October 26, 2022Comments Off on Elon Musk visits Twitter headquarters ahead of deal close deadline

© Reuters. FILE PHOTO: An image of Elon Musk is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) -Billionaire Elon Musk said on Wednesday he was entering Twitter Inc (NYSE:)’s San Francisco office, days ahead of a court-ordered deadline to close his $44 billion deal for the social media platform.

“Entering Twitter HQ – let that sink in!” said the caption to a video that Musk tweeted in which he was walking into the Twitter office carrying a sink in his hands.

Hours earlier, he hinted at being the company’s top boss after updating his profile’s bio to “Chief Twit”.

Twitter confirmed Musk would visit the San Francisco office this week, but declined to comment further.

In the six months of dramatic back-and-forth since Musk announced his $54.20 per share bid, Twitter initially resisted the deal by adopting a poison pill and later sued the world’s richest man after he announced plans to abandon the offer on concerns about spam accounts on the platform.

Earlier this month, Musk proposed to proceed with his original $44 billion bid, calling for an end to the lawsuit by Twitter.

The Tesla Inc (NASDAQ:) CEO notified co-investors who committed to help fund the Twitter deal that he plans to close it by Friday, Reuters reported on Tuesday.

Equity investors including Sequoia Capital, Binance, Qatar Investment Authority and others have received the requisite paperwork for the financing commitment from Musk’s lawyers, Reuters reported.

Twitter shares were up about 1% at $53.31, just about $1 below Musk’s offer price.

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