Elon Musk will complete the $44 billion purchase of Twitter in two days

Reuters reports that by the end of this week Twitter will have a new owner. American billionaire Elon Musk will complete the purchase of the company by October 28.

Here's What We Know

According to Reuters news agency, lawyers of the head of Tesla and SpaceX have already notified major investors. These include the sovereign fund Qatar Investment Authority, the cryptocurrency exchange Binance and the venture capital fund Sequoia Capital.

On October 24, Elon Musk held a video conference with the banking community and confirmed the seriousness of his intentions regarding the purchase of Twitter. The deal will cost $44 billion ($54.2 per share). The American billionaire got $13 billion of credit funds to buy Twitter. Another $7 billion or so was raised by private investors, including Larry Ellison, founder of the startup Oracle.

After Elon Musk confirmed his willingness to close the deal with Twitter by Friday, October 28, the company's stock rose to $52.85 (+3%). The $54.2 buyout price was announced in mid-spring.

Source: Reuters