Elon Musk one step closer to taking over Twitter deal after Board's green signal

New Delhi: The Twitter Board has given a green signal to the Billionaire and Tesla CEO Elon Musk for the deal of the micro-blogging site. The Board unanimously approved the $ 44 billion purchase agreement. It is learnt that Musk bid to take over the company is still pending. The merger deal is one step ahead, with the Twitter Board unanimously voting on the latest deal.

However, it needs the approval of shareholders. Investors will vote on whether to approve the merger agreement or not at a special stockholders' meeting. Shareholders are entitled to $ 54.20 per share in their stock. It takes into account the last-day trading value of Musk's purchase of his nine per cent stake. TechCrunch has revealed the details of the Twitter Securities and Exchange Commission filing to this effect. It seems that the Twitter Board of directors has recommended that shareholders vote for the merger agreement while agreeing to compensation.

Musk, on the other hand, who claims that almost five per cent of the accounts are fake, reiterated the same thing in a recent interview with the Qatar Economic Forum. He added that another major hurdle in dealing with the deal was shareholders’ approval. Musk, however, said in a virtual meeting with Twitter employees last week that he hoped to move forward on the deal.