Arab Press

بالشعب و للشعب
Saturday, May 31, 2025

Elon Musk turns up at Twitter HQ carrying a sink as takeover nears completion

Elon Musk turns up at Twitter HQ carrying a sink as takeover nears completion

The billionaire posts a video showing him at Twitter HQ after reports that his takeover of the social media platform is in its final stages.

Elon Musk has been seen entering Twitter HQ carrying what appears to be a sink.

Mr Musk tweeted a video showing himself walking into the building in San Francisco a day after reports that he could close his $44bn takeover of the site by the end of this week.

The 51-year-old captioned the video: "Entering Twitter HQ - let that sink in!" - a play on words for the sink he was carrying.

He has also changed his Twitter bio to "Chief Twit".

The banks involved in the takeover have finished putting together the final credit agreement and are in the process of signing the documentation, according to a report by Bloomberg.


Mr Musk, the tycoon behind Tesla and Space X, has promised $46.5bn in equity and debt financing for the takeover, covering the $44bn price tag and the closing costs.

A number of banks, including Morgan Stanley and Bank of America, have committed $13bn in debt financing to support the deal.

Equity investors, including Oracle Corp co-founder Larry Ellison and Saudi Prince Alwaleed bin Talal, will contribute $7.1bn.

The takeover has been far from smooth.

Mr Musk said on 4 October he would proceed with the full offer made in April, ahead of legal action that Twitter was set to bring against him later this month for going back on the deal.

Mr Musk, a long-time Twitter user who has been critical of its free speech credentials, had tried to seek better terms on the grounds that the social media company was refusing to divulge the true number of spam accounts on the platform.

He said that this question mark left the business's true market value in doubt.

US tech stocks have also suffered since the deal was struck - in Twitter's case they have fallen from $44 per share on 14 April to as low as $32 in July when the bid was formally withdrawn.

The offer price Musk initially agreed to was $54.20 per share, but the share price is currently $53.32.

Comments

Oh ya 3 year ago
I can hear snowflakes heads exploding from here. SWEET

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Netanyahu Accuses Starmer of Siding with Hamas
Calls Grow to Resume Syrian Asylum Claims in UK
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Denmark Increases Retirement Age to 70, Setting a European Precedent
Iranian Director Jafar Panahi Wins Palme d'Or at Cannes
Israeli Airstrike Kills Nine Children of Gaza Doctor
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
Mount Lewotobi Laki-Laki Erupts Again, Spewing Ash Cloud over Flores Island
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
Senate Democrats Move to Censure Trump Over Qatar Jet Gift
Hamas Releases Last Living US Hostage from Gaza Amid Ongoing Conflict
×