Elon Musk's $44 Billion Twitter Deal Gets Board Endorsement

Mon, 04 Jul 2022

Elon Musk's $44 Billion Twitter Deal Gets Board Endorsement

Voice of America
22 Jun 2022, 00:35 GMT+10

New York - Twitter's board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing Tuesday.

Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain far below his offering price, signaling considerable doubt that it will happen.

Shares rose about 3% to $38.98 before the opening bell Tuesday, far short of the $54.20 per-share that Musk has offered for each share. The company's stock last reached that level on April 5 when it offered Musk a seat on the board before he had offered to buy all of Twitter.

In a filing with the U.S. Securities and Exchange Commission detailing on Tuesday detailing a litter to investors, Twitter's board of directors said that it 'unanimously recommends that you vote (for) the adoption of the merger agreement.' If the deal were to close now, investors in the company would pocket a profit of $15.22 for each share they own.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sports Sun.

More Information

32 ℃

Mostly Cloudy in Seletar

US Sports

Section

MLB roundup: Jeremy Pena's walk-off HR propels Astros to series sweep

Jeremy Pena clubbed a walk-off home run with two outs in the ninth inning, his second homer of the game, ...

Orioles, Rangers aim for improvements, and more wins, in second half

The Baltimore Orioles and Texas Rangers are reviewing what's gone right and what's gone wrong in the first half of ...

Stallions outlast Stars to win wild USFL title game

Linebacker Scooby Wright III returned an interception for a touchdown in the fourth quarter to help the Birmingham Stallions seal ...

Zack Wheeler, Phillies shut out Cardinals

Zack Wheeler and two relievers combined on a four-hitter as the Philadelphia Phillies shut out the visiting St. Louis Cardinals ...

Athletics ace Frankie Montas (shoulder) exits vs. Mariners

Oakland Athletics right-hander Frankie Montas exited Sunday's road game against the Seattle Mariners after one inning due to inflammation and ...

White Sox pound Giants to polish off road sweep

Right-hander Lucas Giolito struck out seven in six strong innings, Gavin Sheets capped a big weekend with a three-run double ...

NFL

Section

Stallions outlast Stars to win wild USFL title game

Linebacker Scooby Wright III returned an interception for a touchdown in the fourth quarter to help the Birmingham Stallions seal ...

Argonauts, Andrew Harris set for clash with Blue Bombers

The Winnipeg Blue Bombers have their first chance to face former teammate and star running back Andrew Harris when they ...

Odell Beckham Jr. says torn ACL didn't occur during Super Bowl

Wide receiver Odell Beckham Jr. was believed to have torn his left anterior cruciate ligament during Super Bowl LVI. Only ...

Roughriders amped for revenge as Alouettes arrive for rematch

The Saskatchewan Roughriders will look for revenge when they host the Montreal Alouettes on Saturday night in Regina. It will ...

Miami lands commitment from No. 2 TE prospect Riley Williams

Riley Williams, the No. 2 tight end prospect in the Class of 2023, announced Friday he would play for Miami. ...

Fentanyl, cocaine cited in death of Ravens' Jaylon Ferguson

Baltimore Ravens linebacker Jaylon Ferguson died last month at the age of 26 from the combined effects of fentanyl and ...

Movie Review

In the Heat of the Night (4K UHD)