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HomeTechnologyElon Musk Visits Twitter as $44 Billion Deal Nears Completion

Elon Musk Visits Twitter as $44 Billion Deal Nears Completion

Elon Musk looks to be not off course to shut his blockbuster $44 billion deal for Twitter.

Mr. Musk, who runs Tesla and SpaceX, visited Twitter’s San Francisco headquarters on Wednesday and tweeted a 9-2d video of himself smiling and carrying a porcelain sink into the building.

“Getting into Twitter HQ — let that sink in!” he wrote.

Mr. Musk, the enviornment’s richest man, faces a Friday time limit to complete his remove of Twitter, in accordance to a judicial ruling. He’s anticipated to reduction a unfold of meetings this week at the social media company, said three Twitter workers who spoke on the condition of anonymity. He’s additionally arrangement to contend with Twitter workers on Friday, in accordance to the workers and an inside of expose from Leslie Berland, the company’s chief advertising officer.

Mr. Musk, 51, additionally modified his profile on Twitter by describing himself as “Chief Twit” and marking his build of residing as “Twitter HQ.”

A Twitter spokesman didn’t straight away reply to a test for commentary.

Mr. Musk’s look at Twitter’s offices suggests that he plans to shut the deal after a drawn-out and tumultuous few months. The billionaire agreed to remove the company in April. However within weeks, he regarded as if it can maybe maybe feel sorry about his resolution and tried to abet out.

Twitter then sued Mr. Musk to force him to abide by the deal contract, with the case scheduled to budge to trial this month. This month, the billionaire modified his suggestions again and recommitted himself to the remove. The Delaware Chancery Court have within the case delayed the trial, giving a time limit of Oct. 28 for the deal’s completion.

Mr. Musk has promised to transform Twitter by taking it deepest, doing layoffs and nurturing subscription corporations. He has said he’s a “free speech absolutist” and desires to loosen principles spherical enlighten material moderation on the service, including reversing the ban on worn President Donald J. Trump from the platform. He has added that Twitter ought to become an “everything app” modeled after WeChat, a Chinese platform that presents social media, instantaneous messaging and cellular payments.

Mr. Musk has spent the final three weeks finalizing the phrases of his financing for the deal, which include $12.5 billion in debt from Wall Aspect road banks. Investment banks customarily sell the debt they arrange for such presents to decrease threat that sits on their steadiness sheets. However given the short walk at which Mr. Musk is now racing to shut the deal, besides to the soured marketplace for such debt, they are in its build maintaining that debt on their steadiness sheets not decrease than within the mean time, two folks with data of the topic said.

With so essential uncertainty swirling over the deal, about a of Twitter’s 7,500 workers hang been jittery. Final week, the company sought to quell employee concerns after experiences that Mr. Musk deliberate to lay off as many as 75 percent of them. Twitter told workers that the recent administration had no plans for layoffs but would possibly well maybe maybe manufacture no guarantees about what Mr. Musk would possibly well maybe maybe attain.

Workers who hope to live at the company hang additionally shy that their compensation would possibly well maybe maybe replace. Below the phrases of his settlement to remove Twitter, Mr. Musk assented to interchange the inventory suggestions granted to workers with on a common foundation scheduled money bonuses. However because Mr. Musk has flip-flopped on other deal logistics, some workers hang feared that he obtained’t honor his compensation commitments.

On Wednesday, Ms. Berland encouraged Twitter’s workers to greet Mr. Musk if they saw him within the predicament of commercial.

“Must you’re in SF and observe him spherical, verbalize hi!” she wrote in an electronic mail, which used to be obtained by The New York Occasions.

Mr. Musk final spoke with Twitter’s workers precise by a test-and-reply session in June.

“I need Twitter to contribute to a higher, prolonged-lasting civilization where we higher realize the nature of reality,” he said at that assembly.

Lauren Hirsch contributed reporting.



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