08 August 2022 18:21

DIGITAL

Elon Musk's $44 billion Twitter deal gets Twitter board endorsement

Twitter's board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing Tuesday.

Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain far below his offering price, signaling considerable doubt that it will happen.

The board "unanimously recommends" that shareholders "vote (for) the adoption of the merger agreement," according to a document filed through the Securities and Exchange Commission (SEC). The board is also asking Twitter shareholders to okay any financial benefits the company would have to pay its executives following the merger.

On Tuesday at the Qatar Economic Forum in an interview with Bloomberg, Musk listed the approval of the deal by shareholders as one of several “unresolved matters” related to the Twitter deal.

Twitter HQs will no longer be the bastion of the left leaning folks. Musk has been a vocal critic of many of the company's policies and practices. Current crop of management will be axed. 

Read 578 times Last modified on Thursday, 23 June 2022 04:12
Share this article

About author

Editor

Leave a comment

Make sure you enter the (*) required information where indicated. HTML code is not allowed.

Powered By MAXIMESS

We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…