Twitter’s board of directors has unanimously recommended to shareholders that they approve Elon Musk’s $44 billion offer to take over the company, The Daily Mail reports.
In a regulatory filing on Tuesday morning, Twitter’s board urged shareholders to approve the buyout at Musk’s proposed price of $54.20 per share during a special meeting later this year.
Though Musk has threatened to pull out of the merger agreement he signed on April 25, citing concerns over fake accounts, Twitter’s board has insisted that it will enforce the terms of the agreement.
A date for the shareholder vote has not yet been set, but the merger agreement includes a deadline of October 24 to consummate the deal.
