Twitter Board OKs Musk Buyout Bid Worth $44 Billion

Twitter Deal: Twitter's board of directors has allowed Elon Musk...

Twitter Deal: Twitter’s board of directors has allowed Elon Musk to sell the microblogging site for $44 billion. Twitter made a regulatory filing in this regard with the US Security and Exchange Commission on Tuesday. The Twitter board has unanimously approved the purchase of Musk for $ 44 billion.

Board of directors found the deal acceptable
The Board found that the merger agreement is acceptable and that the transaction is in the interest of Twitter and its shareholders. After this news, the price of Twitter’s shares jumped almost three percent to $ 38.60 per share.

Twitter deal was in doubt
Musk said on Tuesday that there are still some unresolved issues with Twitter. Musk told the Qatar Economic Forum that he is still waiting to know what the actual number of bots is on Twitter. He also said that he does not want to be the CEO of Twitter. Annoyed by the presence of a large number of bots on Twitter, Musk put the deal to acquire Twitter on hold in May.

Twitter deal for $ 44 billion
Billionaire Elon Musk, the world’s richest man, announced the acquisition of Twitter for about $44 billion.

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