Twitter is one step closer to the approval of the buyout agreement by Elon Musk. The companyʼs board of directors today advised shareholders to vote in favor of the deal, which Musk first proposed in April.
This was reported by NBC News.
Elon Muskʼs proposal to buy Twitter for $44 billion is close to voting, which will help promote the deal.
In a statement from the Securities and Exchange Commission, the board of directors of this San Francisco company advised shareholders to approve the deal, which Musk first proposed in April.
If the green light comes on, stakeholders will receive $54.20 for each share of the company — a significant increase in the share price of $39.31, which Twitter traded before Musk announced the purchase of 9% of the companyʼs shares.
- On April 5, Elon Musk bought a 9.2% stake in Twitter, after which the company offered him a seat on the board. Musk refused and on April 14 offered to buy Twitter for $ 43 billion.
- Tesla has since lost $126 billion due to investor fears.
- On May 13, Twitter shares fell 19% as Elon Musk stopped the process of buying the company. The billionaire said the temporary "delay" was caused by the expectation of detailed information on the number of fake Twitter accounts.