TwitterThe U.S. board of directors has recommended that shareholders approve the proposed $44 billion sale to Tesla’s CEO. Elon MuskAccording to a regulatory filing on Tuesday. It comes days after Musk threatened to walk away from the acquisition deal if he failed to provide data on social media network spam in a letter. fake accounts,
In a filing with the US Securities and Exchange Commission on Tuesday, Twitter’s board of directors said it “unanimously recommends that you vote (for)” to adopt the merger agreement. According to an AP report, if the deal were to close now, the company’s investors would have made a profit of $15.22 for each of its shares.
Earlier, in a letter recently filed with regulators, Elon Musk has stated that he was entitled to conduct his own survey of spam accounts, as he believes more than 5 percent of bot accounts on Twitter. That is reported by the microblogging site.
“As the potential owner of Twitter, Mr. Musk is expressly entitled to the requested data to enable him to convert the business of Twitter into his ownership and to facilitate its transaction financing. Musk’s attorney, Mike Ringler To do both, it must have a complete and accurate understanding of the core of Twitter’s business model — its active user base.
“Based on Twitter’s behavior so far, and in particular the company’s latest correspondence, Mr. Musk believes the company is actively protesting and undermining their information rights,” the letter said. has been.” “This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights as a result, including his right not to terminate the transaction and his right to terminate the merger agreement.”
Twitter later responded to Musk’s letter, saying it would share the information with the Tesla CEO. “Twitter has and will continue to share information with Musk to ensure the transaction is completed in accordance with the terms of the merger agreement,” the statement said.
Twitter chief executive Parag Agarwal tweeted last month that he does not believe fake and spam accounts can be counted outside the company, as it would require personal information that Twitter cannot share.
“We believe that this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement at the agreed price and terms,” it added. As indicated by its current CEO Parag Agarwal in a series of tweets earlier, after Musk announced a halt to the deal, “While I expect the deal to close, we need to be open to all scenarios. Need to be prepared and always do what is right for Twitter. I am accountable to lead and run Twitter, and our job is to build a stronger Twitter every day,” he had said in a tweet on May 14.
According to a recent Reuters report, Twitter expects a shareholder vote on its $44 billion sale to Elon Musk could come as early as August, as it looks to work out a constructive deal with the world’s richest man. continues to operate.
read all breaking news , today’s fresh news watch top videos And live TV Here.