Elon Musk tells bankers he plans to close Twitter deal by October 28

Elon Musk pledged Monday to close the acquisition of Twitter Inc. by Friday in a video conference call with bankers helping fund the deal, according to people with knowledge of the matter.

The banks, which are providing $13 billion of debt financing, have finished putting together the final credit agreement and are in the process of signing the documentation, one of the last steps before actually sending the cash to Musk, said the people, who asked not to be named discussing a private transaction.

Twitter shares jumped on the news and traded as high as $53.18, approaching Musk’s $54.20 acquisition price.