Banks begin doling out $13 billion to back Musk's takeover of Twitter

Pinwan, October 27, according to the Wall Street Journal, people familiar with the matter said that banks have begun to release $13 billion in cash to support Tesla CEO Elon Musk's completion of the Twitter acquisition. This is the latest sign that the $44 billion deal is expected to close this weekend after several months of ups and downs. Musk sent a borrowing notice to the bank that agreed to finance his Twitter acquisition late Tuesday, one of the people said. It is reported that a process is started from this, after the final details of the debt contract are finalized, the bank will deposit the promised funds into an escrow account. Once the conditions to close the deal are finally met, Musk will be able to withdraw the funds to execute the deal before a deadline on Friday.