Elon Musk’s $44-billion Deal Gets Twitter Board Endorsement; Check Details


Twitter's board has endorsed the $44-billion deal unanimously.

Twitter’s board has endorsed the $44-billion deal unanimously.

If the deal were to close now, investors in the company would pocket a profit of $15.22 for each share they own

Twitter’s board of directors has recommended that shareholders approve its proposed $44-billion sale to Tesla CEO Elon Musk, according to a regulatory filing Tuesday. It comes days after Musk in a letter threatened to walk away from the takeover deal if the social media network failed to provide data on spam and fake accounts.

In a filing with the US Securities and Exchange Commission on Tuesday, Twitter’s board of directors said that it “unanimously recommends that you vote (for) the adoption of the merger agreement”. If the deal were to close now, investors in the company would pocket a profit of $15.22 for each share they own, according to an AP report.

Earlier, in a recent letter filed with regulators, Elon Musk has said he was entitled to conduct his own survey of spam accounts, as he believes that there are more than 5 per cent of bot accounts on Twitter as reported by the microblogging site.

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