Twitter's board of directors accepts Elon Musk's takeover of the company

Twitter's board of directors on Tuesday unanimously approved the acquisition of the entire company by US billionaire Elon Musk, in the latest step towards completing the $44 billion deal.

In a filing with the US Securities and Exchange Commission, Twitter's board said it "unanimously recommends that a vote be taken to adopt the merger agreement.

If the deal closes now, the company's investors will receive a profit of $15.22 for each share they own."

Twitter’s board of directors decided unanimously that “the merger agreement is desirable, and that the merger and other transactions stipulated in the merger agreement are fair and desirable, and serve the interests of Twitter and its shareholders,” according to what was stated in a power of attorney file with the securities and exchange commission.

Last week, Elon Musk reiterated his desire to move forward with the acquisition of Twitter during his first official meeting with the Twitter site's employees, even though the social networking platform's shares are still well below the offer price.

According to "The Independent" and "sptnik".

On Tuesday, Elon Musk listed shareholder approval of his purchase of Twitter as one of several "unresolved matters" related to the purchase.

Twitter shares were essentially flat before the opening bell on Tuesday, well below the $54.20 per share that Elon Musk offered to pay.

The last time the company's stock reached this level was last April 5, when the board of directors of "Twitter" offered Musk to join them, before the latter offered to buy the entire site.

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