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Twitter board okays Musk’s bid worth $44 billion

New Delhi: Twitter’s board of directors has allowed Elon Musk to take over the micro-blogging site for $44 billion. Twitter filed a regulatory filing in this regard on Tuesday with the US Securities and Exchange Commission, which the Twitter board unanimously sealed Musk’s $44 billion purchase.

The board found that the merger agreement is acceptable and the transactions related to it are in the interest of Twitter and its shareholders. The price of Twitter’s shares jumped nearly three percent to $38.60 apiece after the development.

Musk said on Tuesday that there were still some unresolved issues with Twitter. Musk said at the Qatar Economic Forum that he was still waiting to know what the actual number of bots on Twitter was. He also said that he does not want to be the CEO of Twitter. Angered by the presence of a large number of bots on Twitter, Musk had in May put on hold a deal to acquire Twitter.

 

Twitter’s deal for $44 billion

Billionaire Elon Musk, the world’s richest man, announced his acquisition of Twitter for nearly $44 billion.