Musk arrives at Twitter HQ in sync
Elon Musk has updated his Twitter account bio to write 'Chief Tweet' two days ahead of a court deadline to complete the $44 billion Twitter deal. Not only that, he also reached Twitter's headquarters in San Francisco on Wednesday. Meanwhile he was carrying a sink in both hands.
Elon Musk has also shared his video. The caption read, 'Entering Twitter HQ - let it sink in!'In the video, Musk can be seen taking the sink in with both hands.
Why Kasturi wrote - let that sink in!
Let that sink in! Also used as an idiom. It means understand it properly and completely. It is speculated that he did this to show that he now owns Twitter. It is also being said that the Twitter deal could be completed by Friday.
2 major events in last 3 days
1) According to a Bloomberg report, Musk held a meeting with bankers on a video-conference call on Monday in which he promised to close the Twitter deal.
2) Other banks, including Morgan Stanley and Bank of America, are in the process of signing the document that will finance the $13 billion in debt. This is the last step in sending cash to Musk. Kasturi can get this cash by Thursday.
How did the Twitter deal start and where did it stop?
Musk said he was offering to buy 100% of Twitter at $54.20 per share, a 54% premium a day before he began investing in Twitter. This is my best and last offer. If this is not approved I will need to reconsider my position as a shareholder.
Musk owns 9.2% of Twitter. This information came out on April 4. Musk initially offered $43 billion, but that figure jumped to $44 billion after Twitter approved the deal. However, Musk said at the time that he was canceling the deal due to lack of accurate information about the spam account.
Musk received a Friday deadline
Twitter went to court after canceling the deal. A Delaware court adjourned the deal until October 28 and said it would resume hearings if no deal is reached.