Despite multiple attempts to stall or stop entrepreneur Elon Musk's $44 billion takeover of Twitter, the tech company's board voted unanimously Tuesday to recommend share holders vote in favor of Musk's ownership.
"Twitter’s Board of Directors, after considering the factors more fully described in the enclosed proxy statement, unanimously: (1) determined that the merger agreement is advisable and the merger and the other transactions contemplated by the merger agreement are fair to, advisable and in the best interests of Twitter and its stockholders; and (2) adopted and approved the merger agreement, the merger and the other transactions contemplated by the merger agreement," an SEC filing states.
Last week Musk held his first meeting with the company and explained his philosophy about how it should function as a free speech platform.
“I think it’s essential to have free speech and for, and to be able to communicate, yeah, just communicate freely,” Musk said. “In order for people to have trust in Twitter, I think it’s extremely important that there’d be transparency."
He's also demanded more transparency from the company about bots and spam users. In May, Musk briefly put the deal on hold.
20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher.
— Elon Musk (@elonmusk) May 17, 2022
My offer was based on Twitter’s SEC filings being accurate.
Yesterday, Twitter’s CEO publicly refused to show proof of <5%.
This deal cannot move forward until he does.
Most of these “top” accounts tweet rarely and post very little content.
— Elon Musk (@elonmusk) April 9, 2022
Is Twitter dying? https://t.co/lj9rRXfDHE