Twitterʼs board of directors unanimously recommended that the companyʼs shareholders approve its purchase by Elon Musk for $44 billion

Author:
Julia Sheredeha
Date:
Twitterʼs board of directors unanimously recommended that the companyʼs shareholders approve its purchase by Elon Musk for $44 billion

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.