Elon Musk visits Twitter headquarters ahead of takeover deadline

Published
2

Billionaire Elon Musk said he paid a visit to Twitter Inc’s headquarters in San Francisco on Wednesday, ahead of a court-ordered deadline to close his $44 billion deal for the social media platform.

“Entering Twitter HQ let that sink in!” said the caption of a video that Musk tweeted in which he was walking into the Twitter office carrying a sink in his hands.

Hours earlier, he hinted at being the company’s top boss after updating his profile’s bio to “Chief Twit”.

Twitter confirmed Musk would visit the San Francisco office this week, but declined to comment further.

Banks have started to send $13bn in cash backing Musk’s takeover of Twitter in a sign that the deal is on track to close by the end of the week, the Wall Street Journal reported, citing people familiar with the matter.

Once final closing conditions are met, the funds will be made available for Musk to execute the transaction by the Friday deadline, the report added.

Bank of America and Barclays declined to comment on the report when contacted by Reuters, while Morgan Stanley did not immediately respond to a request for comment.

In the six months of a dramatic back-and-forth since Musk announced his $54.20 per share bid, Twitter initially resisted the deal by adopting a poison pill and later sued the world’s richest man after he announced plans to abandon the offer on concerns about spam accounts on the platform.

Earlier this month, Musk proposed to proceed with his original $44bn bid, calling for an end to the lawsuit by Twitter.

The Tesla Inc CEO notified co-investors who committed to help fund the Twitter deal that he plans to close it by Friday, Reuters reported on Tuesday.

Equity investors including Sequoia Capital, Binance, Qatar Investment Authority and others have received the requisite paperwork for the financing commitment from Musk’s lawyers, Reuters reported.

Twitter shares were up about 1.1 per cent at $53.91 in extended trading, slightly below Musk’s offer price.

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Farewell to arms?
Updated 03 Aug, 2026

Farewell to arms?

PALESTINIAN resistance group Hamas recently made a major concession by agreeing to give up its weapons. It should be...
Unplanned future
03 Aug, 2026

Unplanned future

A PROJECTION that Pakistan’s population could reach 400m by 2040 should not be treated as another dramatic number...
No more torture
03 Aug, 2026

No more torture

EVEN the best laws on the books are worth little unless the state shows the willingness to enforce them. This is...
Urban flooding
Updated 02 Aug, 2026

Urban flooding

THE warning from the disaster management and weather authorities that a new monsoon spell could trigger urban...
Fatal workplaces
02 Aug, 2026

Fatal workplaces

THE methane explosion near Quetta that killed 34 coal miners is the latest entry in Pakistan’s long register of...
Dual standards
02 Aug, 2026

Dual standards

IT appears that the Pakhtunkhwa Milli Awami Party has fallen foul of the Election Commission of Pakistan. A...