Elon Musk’s $44 billion Twitter deal gets board endorsement
Elon Musk speaks at the SATELLITE Conference and Exhibition March 9, 2020, in Washington. (AP Photo/Susan Walsh, File)
NEW YORK (AP) — Twitter’s board is recommending that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk.
Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain far below his offering price, signaling considerable doubt that it will happen.
Shares are up about 3% before the opening bell Tuesday, far short of the $54.20 that Musk has offered for each share.
News at your fingertips! Stay informed with Indiana, Local, and National News straight to your inbox.