Elon Musk’s $44B Deal To Speed Up as Twitter Board Asks Shareholders To Accept the Offer

Vignesh Karunanidhi
Source:News Text Area

Twitter has filed a proxy statement with the Securities and Exchange Commission asking shareholders to accept Elon Musk’s $44 billion offer. The statement asks the shareholders to attend a special meeting about the $44 billion Twitter acquisition deal.

The proxy statement filed with the SEC on Tuesday states and recommends that the shareholders unanimously vote in favor of the adoption of the merger agreement.

The social media giant’s board of directors believes that the acquisition deal is fair, advisable, and is in the best interest of the stakeholders and Twitter. The board advises shareholders to vote “FOR” the merger agreement, executive remuneration, and the adjournment of the special meeting owing to a lack of votes.

At the special meeting, you will also be asked to consider and vote on a proposal to approve, on a non-binding, advisory basis, the compensation that will or may become payable by Twitter to its named executive officers in connection with the merger; and a proposal for the adjournment of the special meeting.

The Proxy statement
Source: Business Today

Twitter is unanimously recommending accepting Elon Musk’s deal

The board unanimously recommends that the shareholders vote for the merger agreement, for the compensation that would be required to be payable by Twitter to its executive officers, and for the adjournment of the special meetings from time to time.

In July or August, shareholders are anticipated to vote on Elon Musk’s proposed acquisition of the firm. At the time of writing, Twitter’s shares are currently trading at $38.63. Elon’s offer of $54.20 is way higher than the current price. So comparatively, the deal will be advantageous to the shareholders.

Source: Ars Technica

Elon Musk’s Twitter acquisition deal was on the verge of doubt as Twitter was lagging in providing spam account details of the platform. Now the deal seems to be progressing, overthrowing doubts of failure.