According to a regulatory statement on Tuesday, the board of the microblogging platform Twitter has unanimously recommended that the shareholders of the business approve Elon Musk’s proposed $44 billion takeover bid, bringing an abrupt end to the speculation about whether or not Musk’s bid to take over Twitter would actually pan out.
The board of directors of Twitter stated in a filing with the Securities and Exchange Commission (SEC) that they believe Musk’s bid is in the best interests of shareholders, who will get $54.20 per share after the acquisition is complete.
Twitter’s board of directors has unanimously approved SpaceX and Tesla CEO Elon Musk’s bid to take over the company for $44 billion, recommending that shareholders approve the deal. https://t.co/JgrlPJJ1LJ
— Breitbart News (@BreitbartNews) June 21, 2022
Musk, who previously accused Twitter of concealing the true number of bots using the platform, said he is “still awaiting resolution” on the issue of bot accounts.
Musk referred to Twitter’s claim that fewer than 5% of daily users are bots as “very suspicious,” and he suggested that the acquisition price be lowered if the site actually has a higher percentage of bots than Twitter says.
Elon Musk declared in April that he intended to buy the majority of Twitter and turn it into a free speech platform, which instantly infuriated those who supported internet control.
According to Musk, the future of humanity depends on the right to free speech. At the TED 2022 conference in April, Musk stated, “My strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization.”
Musk said on the same occasion, “I do think that we want to be very reluctant to delete things, and just be very cautious with permanent bans. Timeouts, I think, are better than permanent bans.”
— The Post Millennial (@TPostMillennial) April 14, 2022
More recently, Musk declared his allegiance to the GOP, casting his first red ballot for Mayra Flores in the special election for Texas’ 34th Congressional District last week.
Musk tweeted, “First time I’ve ever voted Republican. Massive red wave in 2022”