Elon Musk is on track to buy Twitter. For real this time.
Twitter spokeswoman Rebecca Hahn confirmed a companywide communication that said Musk would address the company on Friday.
Musk is funding a large portion of the deal through debt from a group of seven major banks. Spokespeople for Morgan Stanley, Bank of America, BNP Paribas and Societe Generale did not respond to a request for comment. Spokespeople for Barclays, Mizuho and MUFG declined to comment. Musk’s team was pitching investors throughout the weekend, the people said, as they looked to lessen his financial burden in the deal.Musk shifted his opinion on whether to buy the company after a series of losses in Delaware Chancery Court in matters related to scheduling and discovery, according to the people close to Musk and his team. A loss became a serious possibility if the matter went to trial, risking penalties beyond merely the buying cost.
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