Twitter's board of directors asked shareholders to approve the acquisition by Tesla boss Elon Musk. This is contained in regulatory filings, which lead to the US Securities and Exchange Commission (SEC).
"Twitter's Board of Directors unanimously recommends that you vote: (1) 'AGREE' to the adoption of the merger agreement; (2) 'AGREE' of the compensation that Twitter will or may be paying to the named executive officers in connection with the merger," the statement reads. the document, reported by us from CNN, Wednesday (22/6/2022).
Then the third vote contains the matter of the board of directors, which wants the shareholders to agree to the postponement of the special meeting, from time to time and at the following dates. Then if necessary, ask for additional power of attorney, if there are not enough votes to approve the merger agreement at a special meeting.
It is known that the social media platform with the blue bird logo plans to hold a special shareholder meeting. The goal is a voting effort related to the acquisition.
This is one of the final steps needed to close the deal. Where the date is still kept secret for the next few months.
On the other hand, the board also said about this merger, that there is no other possible alternative. Including remaining independent or finding someone else to acquire it would be better for shareholders than agreeing with Musk.
Disseminated information revealed that the board unanimously agreed to sell the company for $44 billion or around Rp 651 trillion. Now, through the submission of this regulation, it indicates the company is moving forward with its agreement.
Even though Musk still has doubts about the number of bot accounts scattered on Twitter. This also triggered the Tesla boss to offer a lower selling price.