New York (The Times Groupe)- Twitter’s board of directors unanimously recommended Tuesday that shareholders approve Tesla CEO Elon Musk’s bid to buy the social media giant for $44 billion.
“The merger agreement is advisable and the merger and the other transactions contemplated by the merger agreement are fair to, advisable and in the best interests of Twitter and its stockholders,” the board said in a filing to the Securities and Exchange Commission (SEC).
In his April 14 notification to the SEC, Musk offered $54.20 per share for Twitter, which he owns 9.2% of.
A deal was announced on April 25 for the sale of Twitter to Musk, but Musk said on May 13 that the sale had been suspended.
As he said on Twitter, the deal was on hold pending “details supporting the calculation that spam/fake accounts represent less than 5% of users.” musk’s