The board of directors of Twitter has unanimously approved the completion of the platform’s takeover by the founder of Tesla, Elon Musk.
It should be recalled that the South-African-born billionaire offered $44billion to the board to finalize the deal in April.
The board made its decision known to the shareholders of the microblogging site through a document filed with the United States Securities and Exchange Commission (SEC).
The board members told shareholders to accept the deal as investors’ decision was a major factor delaying the completion of the deal.
Another factor delaying the deal was the disagreement over the percentage of bot or inorganic accounts existing on Twitter, as Musk exhibited doubt about the 5 percent reported by the board.
The world’s wealthiest man felt that the number of spam accounts was higher than the Twitter management made everyone believe, saying the company must back its claim with facts.
He said if the bot accounts are discovered to be higher, he would reduce the amount he offered to acquire the company based on the percentage discovered.
Also, Musk accused the management of Twitter of hiding the followers’ data from him.
However, Twitter has agreed to give him access to the users’ database and plans to hold a shareholders’ meeting in July or early August to make a decision on Musk’s offer.
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