Twitter board approves Elon Musk’s $44 billion deal

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The board of directors of the microblogging platform, Twitter, on Tuesday unanimously approved the completion of the acquisition of the platform by the founder of Tesla, Elon Musk.

The South African-born billionaire had offered $44 billion to the board in April to complete the deal.

The board of directors announced its decision to the shareholders of the microblogging site through a document filed with the United States Securities and Exchange Commission (SEC).

The members of the board of directors informed the shareholders to accept the operation because the decision of the investors is one of the factors delaying the completion of the operation.

Another factor preventing the deal from being scaled was disagreement over the percentage of bots or fake accounts existing on the social media platform, as Musk expressed doubts about the 5% reported by the council. administration.

READ ALSO: Twitter shareholders to vote on Elon Musk’s deal and grant his request for bot accounts

The world’s richest man suspected there were more spam accounts than Twitter management had led him and the public to believe, saying the company needed to provide facts to back it up. his assertions.

He hinted that if it turned out that there were more bot accounts, the amount he offered to acquire the company would be reduced based on the percentage uncovered.

Musk also accused Twitter management of keeping subscriber data away from him.

But Twitter has agreed to give him access to the user database and plans to hold a general meeting in July or early August to decide on Musk’s offer.

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