Twitter’s board unanimously recommended that shareholders vote in favor of Musk buying the company for $54.20 per share under the terms of a deal inked in April.
“We are committed to closing the merger on the price and terms agreed upon with Mr. Musk,” Tuesday’s letter said.The company last week blamed disappointing quarterly earnings results on “headwinds,” including uncertainty imposed on the company by Musk’s chaotic buyout bid. The social giant reported that the number of “monetizable” daily active users — those who can be shown advertising — increased by 8.8 million to 237.8 million.
Twitter’s results covered the period ending in June, and so don’t include Musk’s move in July to try to “terminate” the deal on the argument that the platform was not forthcoming about its tally of fake accounts.
Source: News Formal (newsformal.com)
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