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Twitter board approves acquisition of Elon Musk

Il Board of Directors (BoD) from Twitter approved the acquisition of the social by Elon Musk for $ 44 billion, unanimously advising investors to accept the deal. Approval comes on Tuesday. The same day that Musk emphasizes the willingness to go aheadthe. And become the new owner of the social network.

Twitter board approves acquisition of Elon Musk

Last week, during a virtual interview with i Twitter employees, Elon Musk has expressed his desire to complete the acquisition. But with the arrival of the official approval of the Board, things will perhaps be able to move more quickly.

In an interview with Bloomberg al Qatar Economic Forum, Musk explained that this board decision was among the unresolved issues regarding the deal. The official statement comes with a unanimous verdict, filed with the U.S. Securities and Exchange Commission. If the deal were to go through, all investors would have a profit of $ 15.22 per share.

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Shares of Twitter hit $ 38 today, up 1% on a daily basis. But still far from it $ 54.20 Musk offers to pay. The company only reached that peak on April 5, when it offered Musk a seat on the board of directors.

In the interview with Bloomberg, Musk also confirmed that he will fire the About 10% of the company’s employees, during the three months following the acquisition. Something he also wants to do for Tesla, given the “bad feeling” he has from the economy.

According to Bloomberg, a mass layoff of that type could result in roughly losing their jobs 3,000-3,500 people. Who may not be as happy with the acquisition by Tesla’s CEO.

Walker Ronnie is a tech writer who keeps you informed on the latest developments in the world of technology. With a keen interest in all things tech-related, Walker shares insights and updates on new gadgets, innovative advancements, and digital trends. Stay connected with Walker to stay ahead in the ever-evolving world of technology.