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Musk closes a $44 billion deal to go private on Twitter, ending a long tortuous journey (NYSE: TWTR)

Elon Musk visits Germany

Maja Hitij

The world’s richest man Elon Musk has completed the $44 billion acquisition of Twitter (NYSE:TWTR). deal, then try to back out, inviting a corporate lawsuit.

The sealed deal prevented the resumption of a trial to decide the lawsuit filed by Twitter to force Musk to continue trading – after he tried to end it, following a sharp drop in Twitter’s value ( as well as many other companies).

Thursday night as the deal closed, Parag CEO Agrwawal and Chief Financial Officer Ned Segal are said to have left headquarters after being fired. Meanwhile, Twitter’s top legal and policy executives, Vijaya Gadde, and General Counsel Sean Edgett have also been fired, New York Times report – add at least one of the fired executives was escorted out of office.

Delaware Prime Minister Kathaleen McCormick stayed at the scheduled trial from the date that began on October 17, saying that if Musk did not close the purchase by 5pm on October 28, New trial date will be set in November.

As the deadline nears this week, signs keep piling up that the deal is about to close successfully on time. Musk is said to have sent a loan notice Tuesday night to lenders providing $13 billion in debt for the deal, and the banks are in the process of signing the documents and transferring the funds for escrow. for delivery on Wednesdays and Thursdays.

Meanwhile, Twitter’s head of human resources said Musk will speak to employees on Friday in the first of many meetings and that Musk has changed his Twitter bio to “Chief Twit” and posted a video of him on Twitter.

Meanwhile, Twitter’s share price (TWTR) inched ever higher than Musk’s $54.20-per-share cash offer.

Musk brought in Tesla (TSLABloomberg reports, engineers will meet with product leaders at Twitter headquarters on Thursday, to learn about Twitter’s code and help Musk understand it.

Earlier, amid reports that advertisers were raising concerns about a Musk-led Twitter (about censorship issues and conflicts of interest), Musk wrote a open letter to the team to clarify his motivation.



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