Twitter urge shareholder to sign off the $44 billion Elon Musk takeover

Twitter management is tired of waiting and backtracking, they want the deal to go ahead. The social media platform is asking its shareholders to approve the $44 billion takeover by Tesla CEO and founder Elon Musk. 

The new developments come after a new regulatory filing by the company with the US Securities and Exchange Commission that recommends the vote for the adoption of a merger and acquisition agreement.  

The company’s board members recommended the shareholders approve: “the compensation that will or may become payable by Twitter to its named executive officers in connection with the merger” and “the adjournment of the special meeting, from time to time, to a later date or dates, if necessary or appropriate, to solicit additional proxies if there are insufficient votes to adopt the merger agreement at the time of the special meeting.”

Musk is still interested in biting the company however, the issue around fake accounts and bots needs to resolve before he can go ahead with the deal to take over the social media platform. 

While speaking at the Qatar Economic Forum, Musk said: “There is the question of, will the debt portion of the round come together and then will the shareholders vote in favour.”

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