The Board of Directors Twitter recommended to approve the sale of social networks Ilon Mask

The Twitter Board of Directors unanimously recommended shareholders to approve the purchase of social networks by Ilon Mask for $ 44 billion. This is evidenced by the document submitted to the SEC.

“Twitter’s board of directors, taking into account the factors described in more detail in the attached intermediate statement, unanimously established that the acquisition agreement is appropriate […] and meets the interests of the company and its shareholders,” the document says.

TWTR shares after the opening of trading increased by almost 2%. The current market capitalization of the company is $ 29.44 billion.

Below is https://gagarin.news/news/accredited-singaporean-investors-may-qualify-for-recognition-of-cryptocurrencies-when-evaluating-assets/ a list of the largest shareholders Twitter:

If the deal was closed now, each of them would receive more than $ 15 profit per share. Jack Dorsy’s income of the former CEO Twitter would be almost $ 978 million.

Recall that at the end of April, Elon Musk agreed to buy Twitter. The billionaire made an offer to absorb the company’s management in the middle of the month.

The entrepreneur explained his intention with a desire to create an “inclusive arena for freedom of speech”, and not a desire to make money.

Initially, the Twitter board of directors negatively took the Mask’s offer, but then reviewed his position.

In May, the billionaire suspended the purchase process due to messages about the overestimation of the indicators of the audience of the social network. In contact with Twitter employees, he said that the number of daily active users should reach 1 million per day. In the first quarter, their number was 229 million.

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