With every passing day, things become clearer as to who will be the new owner of Twitter. It’s been more than a couple of months since the deal between Elon Musk and Twitter has been going on.
Despite several ups and downs between both parties, it is confirmed that Elon Musk is indeed interested in acquiring Twitter.
Twitter Board is Favoring Musk’s Acquisition
It seems that as much as Elon Musk wants to acquire Twitter, the board of directors at Twitter is also eager for Musk to proceed with the acquisition. They have even expressed their intentions of supporting Elon Musk so the deal executes successfully.
Recently, the board of directors has made a recommendation regarding the deal between Elon Musk and Twitter. They have passed their unanimous recommendation about what their orientation should be.
It is a common process for any publicly listed company that the final step before the acquisition is the voting of the shareholders. The deal only pulls through if the shareholders vote in favor of the finalizing of the deal.
The board of directors has recommended the investors must vote in favor of Elon Musk so the deal can go through. If the shareholders vote in favor of Elon Musk, then the last step would be Elon Musk acquiring the social media giant.
In the coming months, the board of directors will hold a meeting where they will have the shareholders call their vote regarding the deal. For now, the board of directors hasn’t disclosed the date they have decided for the voting among the shareholders.
Comments by the Board of Directors
As per the board of directors, there are no alternatives they have thought of in regards to the future of Twitter. They haven’t even made any plans for Twitter if it ends up operating as an independent entity in the future.
For them, the only possibility and future for the social media platform are with Elon Musk. Therefore, they are hoping that the investors make a decision in favor of the merger.
If the voting goes in favor of the deal, then Elon Musk will be able to acquire Twitter at a price tag of $44 billion. The share prices for Twitter skyrocketed even when it was revealed that Elon Musk was the highest shareholder of Twitter.
Future of Twitter with Elon Musk
If the acquisition of Twitter is final, it is expected that the share prices of Twitter may surge tremendously. Musk has many plans for Twitter and he making the social media platform a major online major payments platform is a strong possibility.
Twitter is expected to have a promising future if Elon Musk acquires the social media platform in the upcoming days.