Twitter’s board of directors is unanimous in its support for Elon Musk's bid to take over the company. Its members have unanimously voted to accept the deal and advise shareholders to do the same.
The move by Tesla and SpaceX owner Musk could mean a return of a Tweeting Donald Trump, since Musk has said he would restore the former president's account. Trump, who has been signaling a likely run in 2024 via his own Twitterless social media work-around, was banned from the site in January 2021 — after Twitter concluded his tweets had incited violence at the Jan. 6, 2021, Capitol riot and could do so again.
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The Twitter board's support of Musk’s offer to take the company private came in a proxy statement filed with the Securities and Exchange Commission.
The board told stockholders that it had “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.”
If the stockholders vote to accept the deal, they will get $54.20 per share, about a 38% premium on the closing price of the stock April 1, which was $39.31. As of midday Wednesday (June 22), the price was $38.56. ■
