The Twitter board has unanimously recommended that shareholders vote in favor of Elon Musk’s takeover of the social media giant.
Twitter’s board of directors initially accepted the $44 billion takeover bid at $54.20 per share in late April, and shareholder approval is the final hurdle to the deal going through bar any potentially erratic antics from Musk.
According to a June 21 U.S. Securities and Exchange Commission (SEC) filing, Twitter’s board of directors unanimously determined that the “merger agreement is advisable” and have called on shareholders to vote in favor of the deal.
The board stated that Twitter will be hosting a virtual meeting — at an unspecified date — to vote on the merger which has a deadline of Oct. 24.
If the merger goes through, shareholders will