Billionaire Elon Musk took a new step towards owning Twitter on Tuesday, after the Twitter site’s board of directors recommended that its shareholders vote in favor of the proposed sale, worth $44 billion.
Twitter’s board of directors decided unanimously that “the merger agreement is recommended, and that the merger and other transactions stipulated in the merger agreement are fair and desirable, and serve the interests of Twitter and its shareholders,” according to what was stated in a power of attorney file with the securities and exchange commission.
And Elon Musk reiterated last week his desire to move forward with the acquisition of “Twitter” during his first official meeting with the staff of the tweets site, although the shares of the social networking platform are still well below the offer price.
And today, Tuesday, at the Qatar Economic Forum, Elon Musk listed shareholder approval of his purchase of Twitter as one of several “unresolved matters” related to the purchase.
Twitter shares were basically flat before the opening bell, today, Tuesday, well below $54.20 a share, which Elon Musk offered to pay for each share.
The last time the company’s stock reached this level was last April 5, when the Twitter board of directors offered Musk to join them, before the latter offered to buy the entire site.
Twitter’s Board of Directors Approves Elon Musk’s Offer to Buy the Platform for $44 Billion
