HomeMortgageTwitter Gives Green Light for Elon Musk's Big Buyout, but That Still...

Twitter Gives Green Light for Elon Musk’s Big Buyout, but That Still Doesn’t Seal the Deal

Twitter’s board of directors on Tuesday “unanimously recommended” to its shareholders that they vote to approve Tesla and Space X CEO Elon Musk’s $44 billion offer to acquire the social media company.

“The Twitter Board, after considering various factors described in the section of this proxy statement captioned ‘The Merger— Recommendation of the Twitter Board and Reasons for the Merger,’ has unanimously: (1) determined that 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; and (2) adopted and approved the merger,” the company wrote in a Securities and Exchange Commission filing signed by Parag Agrawal, Twitter’s CEO and Bret Taylor, the chairman of the board of directors.  

Musk’s acquisition would take Twitter private at $54.20 per…

Read more at www1.cbn.com

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