Twitter’s board of directors reiterated its call for shareholders to approve the proposed $44 billion acquisition of the firm led by Elon Musk, but the billionaire Tesla CEO separately warned of three “unresolved” issues that are holding up the transaction. In an SEC filing, Twitter CEO Parag Agrawal and Chairman Bret Taylor both urged shareholders to vote in favor of the deal in an upcoming special meeting. They noted that shareholders would receive $54.20 for each share of Twitter stock they own. After news of the filing started to circulate, the stock rose nearly 3% in early trading to around $38.76. It has lost more than 20% of its value since the merger plan was revealed in April, though most tech shares have seen a similar downturn amid worsening economic conditions. Meanwhile, Musk offered a decidedly gloomy outlook on the economy in an appearance at the Qatar Economic Forum in Doha. He said a recession “is inevitable at some point,” adding that the a near-term recession is “more likely than not.” As to the status of the Twitter takeover, which is backed by more than a dozen other investors, Musk flashed a yellow light and indicated that his previously stated…
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Twitter Board Again Urges Shareholders To OK Elon Musk Takeover, But Tesla Chief Warns …
