The Twitter board of directors has unanimously approved Tesla CEO Elon Musk’s bid to take over the company for $44 billion and also have recommended the Twitter shareholders also approve the deal.
The board of directors announced in a document filed with the Securities and Exchange Commission that they believe Musk's bid is in the best interest of shareholders. The shareholders will be entitled to $54.20 per share once the acquisition is complete.
Board unanimously approves Elon Musk's $44B Twitter takeover bid https://t.co/dC9KseYirl pic.twitter.com/U4GeBxZjrD
— New York Post (@nypost) June 21, 2022
Musk said he is “still awaiting resolution” on the public claim Twitter made that the site is made up of less than 5% bots. He called the claim "very suspicious" and said the price should be reduced if there are actually more bots than Twitter claims there are.
The SpaceX CEO first announced his intention to purchase Twitter in April. His goal is to move it to make it a "free speech platform."
“My strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization,” said Musk while speaking at the 2022 TED Conference.
“I do think that we want to be very reluctant to delete things, and just be very cautious with permanent bans. Timeouts, I think, are better than permanent bans,” Musk continued.
More recently Musk announced a switch to the Republican Party.
I voted for Mayra Flores – first time I ever voted Republican.
Massive red wave in 2022.
— Elon Musk (@elonmusk) June 15, 2022
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