June 22,2022:Twitter’s board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing on Tuesday.
Mr. Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain far below his offering price, signaling considerable doubt that it will happen.
Shares rose about 3% to $38.98 before the opening bell on Tuesday, far short of the $54.20 per-share that Mr. Musk has offered for each share. The company’s stock last reached that level on April 5 when it offered Mr. Musk a seat on the board before he had offered to buy all of Twitter.
Elon Musk’s $44 billion Twitter deal gets board endorsement
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