Twitter board has unanimously approved of Elon Musk $44 billion buyout deal according to the SEC filing submitted on Tuesday. The social media giant is planning to hold a shareholder vote on its sale in the next couple months.
However, Elon Musk has stated that there are still unresolved issues with deal in an interview with Bloomberg on Tuesday. He reiterated his concern about the percentage of spam and bot accounts on Twitter. He also said that the shareholder approval and debt required to finance the deal remain major issues that need to be resolved before the deal can be completed.
Musk’s buyout offer would compensate each stakeholder $54.20 per share. After the news of the filing was released, shares rose up to 3% trading at $38.91.
