Twitter, Musk Talks Warm Up as Buyout Closing Deadline Nears

10/21/2022

Per Bloomberg:

Advisers to Twitter and Elon Musk are hard at work trying to get the $44 billion deal closed by the end of the month, according to people familiar with the matter.

Both sides’ bankers and lawyers are preparing paperwork for the buyout to be completed by the Oct. 28 court-issued deadline, the people said, asking not to be identified because the matter is private.

After months of public acrimony and accusations, talks between the two sides have turned cordial and are focused on closing the transaction rather than litigation, according to one of the people.

The Wall Street banks involved, led by Morgan Stanley, are also ironing out the steps needed to finalize funding about $13 billion of debt commitments. One of the banks has told its staff to expect a borrowing notice from Musk on Tuesday, said another person familiar with the matter.

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