The American businessman Elon Musk must complete the acquisition of Twitter no later than Friday if he wants to avoid going to trial against the social network in which, a priori, he has the losing side.
In this context, the tycoon posted a video on his account on the social network in which he is seen entering the company’s headquarters in the US city of New York loading a sink.
Musk accompanied the video with a brief text: “Entering Twitter HQ – let that sink in!”, a play on words that mixes an expression, “sink in” (which can be translated as assimilating an idea) with the literal definition of ” sink”, which is sink or laundry.
The most notorious business saga of the year may end this week or, failing that, enter a new phase, this time with the two parties face to face in a specialized court in the state of Delaware.
Musk agreed in April to take over Twitter for about $44 billion, but then backed down, prompting the company to sue him to enforce the agreement.
While the trial was being prepared, the owner of the automotive company Tesla tried to negotiate a price reduction for the operation, but Twitter did not accept it and, finally, with the judicial process very close, Musk gave up and announced that he agreed to close. the operation in the original terms.
Last minute negotiations
That happened in early October and since then the two sides have been trying to agree on the details of the deal, but for now the purchase remains unexecuted as the key date of October 28 approaches.
On Friday at 5:00 p.m., US East Coast time (6:00 p.m. Argentina time), the deadline given to Musk by the judge in charge of the case to close the acquisition will expire if he does not want the trial to proceed, in the one that most specialists believe that the social network would impose.
Twitter, despite Musk’s insistence and to guard against possible new surprises, chose not to withdraw the lawsuit until the purchase became effective and, if this does not happen, will seek the court to force the billionaire to comply with what agreed.
In recent weeks, Musk has remained silent on Twitter, following a summer in which he commented on the social network and its alleged problems while trying to stall his purchase.
Now, the few references he makes to Twitter are rather positive, as when he highlighted the “incredible potential” of the platform during Tesla’s quarterly earnings presentation last week.
At the moment not much has transpired about the negotiations, but according to anonymous sources told the economic media, the two parties are working with the objective of closing the operation before the deadline on Friday.
Will Elon Musk get the money to buy Twitter?
This Tuesday, it was learned that some investors in the operation have received documents to prepare the purchase, in a new sign that the discussions are on the right track.
Once Musk announced earlier this month that he was going ahead with the acquisition, financing the deal was seen as the main hurdle.
The richest man in the world had negotiated with several banks to help him pay for the purchase with loans of several billion dollars, but the months of fighting over the operation damaged the image and value of Twitter.
This, combined with a more complicated economic situation, led many analysts to consider that entities could be reluctant to put up the necessary money.
The other possible difficulty, more unexpected, may be in the US government. The Bloomberg agency reported last week that the Biden administration would analyze the possibility of submitting the operation to a national security review.
This information came to light after Musk made several comments about the war in Ukraine that were highly criticized, among others by the kyiv government, for defending pro-Russian theses.
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.