Elon Musk-Twitter saga may end soon as deadline to seal deal looms

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The Elon Musk-Twitter saga that has played out for over six-months now could finally be coming to an end this week, according to The Guardian.

Earlier this month, Delaware Judge Kathaleen McCormick has given the world’s richest man a deadline of 5 pm New York time on October 28 to complete the $44 billion deal to buy Twitter.

Also Read: Elon Musk says excited by Twitter deal despite overpaying

In case Musk fails to complete the transaction this time, McCormick will see him and the social media platform in court soon after.

McCormick was preparing to preside over a trial on October 17 in which Twitter was set to demand that the Tesla chief executive complete a takeover deal that he signed in April.

He had backed out in July but, as the mid-October date loomed, he performed a surprise U-turn and re-committed to buying Twitter.

Musk's silence on the matter is an indicator that he is serious about sealing the deal this time, as per The Guardian.

South Korea's Mirae Asset Financial Group is planning to commit about 300 billion Korean won ($208 million) to help finance Musk's buyout of Twitter, according to Reuters.

The deal with Mirae is expected to be finalised in the coming days before the deadline for the closing of the Twitter deal on October 28. Mirae Asset earlier this year invested in Musk's rocket and satellite company SpaceX.

Analysts say Musk needs to attract more equity investors to finance the Twitter purchase and avoid further sales of his stock in electric car maker Tesla.

Tesla investors have feared the billionaire might sell more Tesla stocks to finance the Twitter deal, weighing on its shares, added Reuters.