Twitter’s board unanimously advised shareholders to approve Elon Musk’s $353 billion offer for the company.
Musk reiterated his desire to push through the acquisition in a virtual meeting with Twitter staff last week.
Currently, Twitter’s share price is much lower than the offer price, indicating serious suspicions that this could happen.
In an interview with Bloomberg at the Qatar Economic Forum on Tuesday, Musk cited shareholder approval of the transaction as one of several “open topics” related to the transaction on Twitter.
This hurdle appears to have been resolved, according to regulatory documents that the board has recommended that shareholders accept masked transactions.
Twitter’s share price hasn’t changed much ahead of Tuesday’s opening call, well below the $54.20 per share offered by SpaceX and Tesla bosses each.
The company’s stock finally reached this level on April 5 when it offered Mask a board seat before offering to buy the entire Twitter account.
“We recommend voting unanimously for the merger agreement,” the Twitter Commission said, detailing the letter sent to investors on Tuesday to the US Securities and Exchange Commission.
If the deal closes now, the company’s investors will receive a profit of $15.22 per share.
Source: Metro
I have worked in the news industry for over 10 years. I have a vast amount of experience in covering health news. I am also an author at News Bulletin 247. I am highly experienced and knowledgeable in this field. I am a hard worker and always deliver quality work. I am a reliable source of information and always provide accurate information.
