Twitter board endorses Elon Musk takeover, urges investors to vote in favor of the deal

[Eugene]

Source: Business Insider

Twitter board endorses Elon Musk takeover, urges investors to vote in favor of the deal

Tim Levin 4 hours ago

Tesla billionaire Elon Musk is one step closer to owning Twitter.

The social media giant's board of directors on Tuesday recommended that its shareholders vote in favor of the proposed $44 billion sale, according to a regulatory filing.

The board unanimously "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," it said in a proxy filing with the Securities and Exchange Commission.

Twitter has not yet set a date for the vote.

-snip-

Read more: https://www.businessinsider.com/elon-musk-twitter-deal-board-endorses-takeover-shareholder-vote-2022-6

______________________________________________________________________

Related: Elon Musk says 3 issues need to be resolved before his Twitter buyout can go ahead (CNBC)

[50 Shades Of Blue]

1. UGH!

[Joinfortmill]

2. R.I.P. Twitter.

[Hugin]

3. It's the best deal they are likely to get.

All they see is $$$ and a way out.

Meanwhile, Musk is looking for a way out, too.

No other offer calvary on the horizon.

[markie]

4. of course

money wins

[highplainsdem]

5. Damn it. Damn Musk.

[dalton99a]

6. Give it to the troll and get it over with

[Initech]

7. Stockholm Syndrome. Guess they've fallen for their kidnappers?

[C_U_L8R]

8. Sorry Board, the shareholders are busy with their lawsuits

Has there ever been such clownery in the entire history of business?

[andym]

9. Bad deal for investors as tech stocks down at the moment

Smart investors would demand more from Musk.

[Hav]

14. Wouldn't that make it a good deal

for investors currently being Twitter shareholders?

"The stock closed at roughly $38 on Friday, 34% below Musk's offering price."

[exboyfil]

16. Yes it seems like a great deal for the shareholders

[andym]

18. Nope-- smart investors look mid to long term on growth stocks-- not 3 months

Over the long-term Twitter is worth more-- it already hit higher prices than the offer last fall. Why give up say 200% returns in a year or two for 30% today?

[TlalocW]

10. Isn't Musk wanting the price to be lowered?

I thought he wasn't getting answers he liked about bots, and then Twitter's stock dropped, yada yada yada.

[former9thward]

15. He has not asked for a price change.

The agreed price was $54.20 a share. The Twitter board agreed to give him the information he wanted about bots. Whether that will satisfy him remains to be seen.

[TlalocW]

19. Oh, I must be thinking that

All his dithering was to get the price lowered, and I inflated it to reality.

[Lovie777]

11. I'm pretty sure there is a viable contract set in stone for many years . . ..

of what is reasonable for twitter and it's users under the watchful eyes of those in charge.

Hopefully it won't be like facebook dba Meta.

[New Breed Leader]

12. god dammit.

FUCK elon musk

[exboyfil]

13. But will Musk actually pay his offer price?

It is currently trading $16 less than offer price (30% less). That doesn't sound like the deal is firm.

Why can't liberal and not crazy conservatives deplatform the first time Trump lies or calls for violence? Do it in a coordinated fashion with some alternative platform available. Urge followers to join them on the new platform.

Turn Musk's $44B into coal.

[budkin]

17. He won't accept the 44 billion deal

That's why he's been throwing a fit.

[LiberalFighter]

20. How much did he pay them to approve it?

[kimbutgar]

21. I'll be deleting my a count once the merger is approved

musk will not get a dime of my money. SOB