Twitter's board of directors has recommended that the company's shareholders vote to approve Elon Musk's $44 billion purchase of the social network.
Twitter's board of directors said in a regulatory filing: The board has unanimously decided that the acquisition is good, fair, and serves the interests of Twitter and its shareholders, according to Arqaam.
Elon Musk has offered to buy Twitter shares for $54.20 a share and turn it into a private company, but a vote on the deal has not yet been announced.
But Twitter's stock recorded sharp losses in the last period, with the US stock market falling in general, as it ended last Friday's session at $38, which represents a 34% drop compared to At the price quoted in the acquisition transaction.
Musk had announced that the Twitter deal was still pending due to a dispute over the number of fake users on the social networking site.
