How close is Elon Musk to officially owning Twitter?

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Elon Musk is nearing the completion of his acquisition of Twitter, with a court-ordered deadline of October 28 to finalize the US$44 billion deal.

Twitter Inc shares are scheduled to be suspended from trading on Friday, October 28. This suspension coincides with the court-mandated deadline for Elon Musk to finalize his US$44 billion acquisition of the social media company. Equity investors involved in the financing commitment have reportedly received the necessary documentation from Musk's legal team.
Deal Financing Documentation Received

Investors, including prominent firms like Sequoia Capital, Binance, and Qatar Investment Authority, have been provided with the required paperwork for the financing commitment. This step signifies progress towards securing the funds necessary for Musk to complete the purchase. The documentation was reportedly distributed by Musk's lawyers, indicating a move to satisfy the financial prerequisites of the deal.
Expected Completion on Original Terms

The acquisition is anticipated to conclude on the initially agreed-upon terms, which stipulate a price of US$54.20 per share. This expected completion means Twitter, along with its investors, is preparing for the deal to be finalized at this valuation. The finalization of the deal would also lead to the termination of the lawsuit filed by Twitter against Musk.
Stock Performance Nears Offer Price

Twitter's stock closed at US$53.35 on the New York Stock Exchange on Wednesday. In extended trading on the same day, the shares saw a slight increase of approximately 1 per cent, reaching US$53.90. This trading price remains marginally below the US$54.20 per share offer price set by Elon Musk for the acquisition.

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How close is Elon Musk to officially owning Twitter?

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