Twitter urges investors to vote in favour of Elon Musk takeover
Earlier this month, Musk had accused Twitter of stonewalling his requests for data about spam accounts and threatened to withdraw his offer altogether
Twitter's board of directors sided with Elon Musk on Tuesday and encouraged its shareholders to vote in favour of the $44 billion sale.
The board unanimously "determined that the merger agreement is advisable and the merger and the other transactions contemplated by the merger agreement are fair to, advisable and in the best interests of Twitter and its stockholders," it said in a proxy filing with the Securities and Exchange Commission.
The date is yet to be set for the voting, reports Insider.
The Tesla billionaire has offered $54.20 per share to take the company private in April.
Since then, Twitter's shares have sunk along with a broader market selloff.
On Friday, The stock closed at roughly $38 on Friday, nearly 38% below Musk's offering price.
Earlier this month, Musk had accused Twitter of stonewalling his requests for data about spam accounts and threatened to withdraw his offer altogether.
