Breaking News: Board unanimously approves Elon Musk’s bid to take over Twitter for $44 billion
While Elon Musk, CEO of Tesla and SpaceX, has been attempting to own Twitter in recent months, the board of directors has given its approval. The social media giant’s board of directors has determined that the merger agreement is advisable and that the other transactions contemplated by the merger agreement are fair and in the best interests of Twitter and its shareholders.
“The Board of Directors of Twitter unanimously recommends that you vote FOR the adoption of the merger agreement,” the notifications to the US Securities and Exchange Commission (SEC) stated.
In the notification, it was emphasized that the votes of shareholders are very important, regardless of the number of shares they own.
“THERE ARE UNRESOLVED ISSUES”
But Musk said in a statement that his $44 billion move to take over Twitter continues to be hampered by the number of fake users on the social network. Musk was reluctant to speak about the Twitter deal at the Qatar Economic Forum, saying it was a sensitive topic.
“There are still a few unresolved issues,” Musk told the talks, which he attended via video link. We are waiting for resolution and this is a very important issue.”
Elon Musk, who previously bought a 9.2 percent stake in Twitter, made an offer of $ 54.2 per share for the entire Twitter in his notification to the SEC on April 14.
In a statement made by Twitter on April 25, it was announced that an agreement was reached to sell the company to Musk.
Musk announced on May 13 that the deal to buy the social media company Twitter for about $44 billion was temporarily suspended.
In a post on his Twitter account, Elon Musk announced that the Twitter deal was temporarily suspended “due to expected details on the calculation that spam and fake accounts account for less than 5 percent of total users”.
On the other hand, in an interview with Bloomberg as part of the Qatar Economic Forum, Musk listed the approval of the deal by shareholders as one of several “unresolved issues” related to the Twitter deal.