June 28, 2022

What you need to know

  • Twitter’s board of directors has officially filed for a shareholder’s vote on the Elon Musk acquisition.
  • It’s unclear when the shareholders will hold the vote to make the final decision. 
  • Musk claims there are still three major issues that need to be resolved before the deal can proceed.

We’re still likely months from the Elon Musk and Twitter deal coming to a close, assuming everything goes off without a hitch. But the good news is that Twitter’s board of directors has officially asked its shareholders to approve the deal. 

This confirmation comes via a new filing with the Securities and Exchange Commission or the SEC (via TechCrunch). The board states it “unanimously recommends that you vote (for) the adoption of the merger agreement.” Provided the merger is agreed upon, Twitter’s shareholders “are entitled to receive $54.20 in cash” for each share that they own, for a total of about $44 billion.