This record comes from an 8-K exhibit (Exhibit 99.1) Twitter filed with the SEC on April 25, 2022, containing the companies' joint press release announcing the signed merger agreement, one of the most widely covered technology M&A transactions of the period. At the time of this filing, the deal had just been unanimously approved by Twitter's board and was pending approval by Twitter stockholders, applicable regulatory clearances, and other customary closing conditions, with closing targeted for later in 2022.
On the financial advisory side, Goldman Sachs & Co. LLC, J.P. Morgan and Allen & Co. served as financial advisors to Twitter. On the acquirer's side, Morgan Stanley is described as acting as lead financial advisor to Mr. Musk, with the release stating plainly that "BofA Securities and Barclays are also acting as financial advisors" to Musk, placing Barclays among the secondary advisors supporting Morgan Stanley on the buy side of this take-private.
Legal counsel to Twitter was provided by Wilson Sonsini Goodrich & Rosati and Simpson Thacher & Bartlett LLP, while Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Musk's acquisition vehicle.
On deal structure, the release discloses that Musk secured 25.5 billion dollars of fully committed debt and margin loan financing alongside an approximately 21.0 billion dollar equity commitment, and states there were no financing conditions to closing. Not disclosed in this exhibit: the specific allocation of advisory responsibilities or any fee arrangements among Morgan Stanley, BofA Securities and Barclays on the buy side; the precise identity of the financing banks providing the debt and margin loan package; and the actual closing date, since only an expectation of closing sometime in 2022 is given (the transaction in fact experienced significant subsequent disputes and amendments not reflected in this initial announcement).