The white smoke hasn’t come out yet, but it looks like it. As Elon Musk’s deadline to complete his takeover of Twitter expires on Friday, the elusive entrepreneur is multiplying signals that the sale will close on time.
The stakes are high for the Tesla and Space X boss. If the ink isn’t dry on the deal by Friday night, the two sides will face each other in November in a Delaware court. A view that Elon Musk seems absolutely hell-bent on avoiding since his lawsuit against Twitter got off to such a bad start.
On October 4, the multibillionaire surprised everyone by announcing that he finally wants to buy the social network at the price agreed upon six months ago, or $44 billion. However, he had done everything to undo this achievement. However, Twitter requires strong guarantees. It is ruled out that Elon Musk will play the California group again, for example, stating that he was unable to open the necessary loans for the capture of…
A message to reassure advertisers
However, as the Wall Street Journal writes, the banks that joined forces with the entrepreneur started transferring the necessary funds on Wednesday, i.e. 13 billion dollars.
On the same day, Elon Musk personally visited Twitter’s headquarters in San Francisco. The visit was organized by the billionaire, who published a video of him in the lobby of the company on his Twitter microblog. He also changed his page on the social network, where he introduces himself as “Main Tweet:“. The social network informed its employees that Elon Musk will address them on Friday.
Another positive signal. At 7 a.m. Thursday in California, Elon Musk posted a lengthy message on social media meant to reassure brands. No, Twitter won’thellof free expression, whereanything can be said without consequence“. the network”will adhere to the laws of each country” and will have to “Be welcoming to everyone.” “Twitter strives to be the world’s most respected advertising platform that will strengthen your brands and help your business grow.Elon Musk asks.
Advertising revenue accounts for almost all of the social network’s revenue. It is therefore imperative that the profile of the potential new owner does not scare away advertisers.
The last tip. The New York Stock Exchange announced that the Twitter operation would be suspended on Friday. Never before has the outcome of this series, which has captivated the media and business community since April, seemed so close. The question now is when will the takeover be formalized? Unless, of course, there is one final twist to this saga.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.