There has been an extremely important development today regarding the acquisition of Twitter by Elon Musk, who has been on the agenda since the beginning of last April. Twitter’s Board of Directors has officially approved Elon Musk’s $44 billion bid.
In the document submitted by Twitter to the SEC, Twitter management made official advice to its investors. “The Twitter Board, anonymously, after considering various factors, has decided that the merger agreement is appropriate and that the merger and other transactions envisioned by the Company are appropriate,” the document states. made statements. The Board also recommends investors “vote for the approval of the Kruulu merger agreement.” gave advice.
Well what does it mean?
With the said decision of the Twitter Board, another obstacle in Elon Musk’s effort to buy Twitter has been removed. After this stage, the decision is left directly to the investors. Investors who own Twitter stock will soon decide whether to accept Elon Musk’s offer of $15.22 per share, or $44 billion in total. If investors accept this offer, the only thing Elon Musk will need to buy Twitter is basically Elon Musk to offer the money.
Investor approval is one of the ‘unresolved issues’, according to Musk:
In a recent statement at the Qatar Economic Forum, Elon Musk stated that he views the approval of the deal by shareholders as one of several “unresolved issues”. This showed that Elon Musk did not trust the shareholders very much.
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