Elon Musk has pledged to close his $44 billion Twitter Inc deal by Friday, Bloomberg News reported on Tuesday, citing people with knowledge of the matter.
Musk made the pledge on a video conference call with bankers who are helping fund the deal, according to the report.
The banks, which are providing $13 billion of debt financing, have finished putting together the final credit agreement and are in the process of signing the documentation, one of the last steps before actually sending the cash to Musk, said the people.
The Wall Street lenders, led by Morgan Stanley, had already been preparing in recent weeks to fund the debt, Bloomberg previously reported. But nothing is ever certain with Musk, the mercurial billionaire who only weeks ago was seeking to back out of the deal. These latest developments suggest he is in the final stages of closing the transaction by a court-issued Oct. 28 deadline.
The banks are expected to receive one of the last formalities -- a borrowing notice -- on Tuesday, and the cash is expected to be held in escrow on Thursday, the people said.
Morgan Stanley and Twitter declined to comment, while representatives for Musk didn’t immediately respond to a request seeking comment.