Rome – Once again Twitter board unanimously agreed in favor of Elon Musk’s bid of $44 billion and is recommending that the company’s shareholders vote in favor of the deal at a shareholder meeting. Board members considered the merger agreement “recommended” and rated the other planned transactions as “fair, affordable, and best in the interests of Twitter and its shareholders.”
The first green light from the board of directors has already arrived in May. The company reports to the Securities Exchange Commission (Sec), i.e. Consob of the United States, while the address Valid in New York.
No date has been set for the extraordinary meeting that will be called to present the deal for shareholder ruling. It should take place between late July and early August. Just a go-ahead for shareholders is one of the conditions that Musk sets, Before completing the Twitter acquisition.
Musk-Twitter, face to face with the staff. Workers’ concerns about potential cuts are on the table
Musk is also worried For fake accounts on the social platform and demanding full access to the data (according to Twitter, spam accounts account for less than 5% of active users).
The last node is the share of debt needed to finance the operation. The Tesla founder pledged $33.5 billion in cash in May and received $7.1 billion in equity financing commitments from other investors, with the rest of the funding expected to come in the form of bank loans.
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