Twitter Board Advises Shareholders to Accept Elon Musk’s Takeover Offer
Twitter’s board of directors unanimously recommends that shareholders approve the takeover offer from Tesla boss Elon Musk. That is according to a document that was filed with the US stock market regulator Securities and Exchange Commission (SEC) on Tuesday.
Twitter’s board of directors said in the letter that it “unanimously recommends that you vote (for) the approval of the merger agreement.”
And that means Musk is one step closer to his takeover of the social media platform. The Tesla and Space X CEO initially offered $44 billion for Twitter, but then the takeover process bogged down in a bizarre succession of conflicting messages. That $44 billion means $54.20 per share.
On Tuesday morning, Twitter shares were worth just over 38 euros on the stock exchange. A takeover could therefore generate a lot of money for shareholders.