Twitter Board Says It Will Enforce Musk’s Buyout Deal

Yahoo Finance reports:

Twitter said it plans to complete its $44 billion merger agreement with Elon Musk, even as the Tesla CEO appears to dither on the deal.

“Twitter is committed to completing the transaction on the agreed price and terms as promptly as practicable,” it said in a Securities and Exchange Commission filing published Tuesday night, referring to Musk’s offer to take the company private.

“We intend to close the transaction and enforce the merger agreement,” the board also told Bloomberg in a statement. On Tuesday, Musk put the brakes on negotiations, saying the buyout can’t proceed unless Twitter CEO Parag Agrawal proved that the platform has fewer than 5% fake accounts.

Read the full article.

Twitter says it’s committed to enforcing Elon Musk’s $44 billion buyout deal even as he appears to hesitate https://t.co/ONzyzNZLzL

— Tech Insider (@TechInsider) May 18, 2022