Twitter’s board of directors has unanimously approved Elon Musk’s bid to buy the company and is recommending shareholders do the same.
The Tesla CEO began a high-profile buyout attempt of one of the biggest social media platforms. The bid has had its own share of drama, but it appears the board is all-in, encouraging shareholders to vote in favor of the deal, according to a new SEC filing:
Twitter’s Board of Directors, after considering the factors more fully described in the enclosed proxy statement, unanimously: (1) determined that the merger agreement is advisable and the merger and the other transactions contemplated by the merger agreement are fair to, advisable and in the best interests of Twitter and its stockholders; and (2) adopted and approved the merger agreement, the merger and the other transactions contemplated by the merger agreement.
The board goes on to recommend that Twitter’s shareholders vote for the adoption of the merger agreement.
Meanwhile, Musk is reportedly unhappy with the data Twitter had provided him to verify the status of bots on the platform. According to Business Insider, Musk has asked for more data and Twitter has met his demands. Musk now has access to the same data stream developers who are part of Twitter’s developer platform.
Given that both parties seem committed to the deal, hopefully, the whole saga will soon conclude.
