Jun 21, 2022 - Technology

Twitter board endorses Elon Musk's takeover bid

Erin Doherty

Elon Musk, chief executive officer of Tesla Inc., speaks via video link during the Qatar Economic Forum in Doha, Qatar, on Tuesday, June 21, 2022. — Elon Musk speaks via video during the Qatar Economic Forum in Doha, Qatar, on June 21. Photo: Christopher Pike/Bloomberg via Getty Images

Twitter's board of directors on Tuesday urged shareholders to approve the proposed $44 billion sale of the social media company to Elon Musk.

Why it matters: Musk's proposed takeover of Twitter has remained uncertain as the billionaire has threatened to pull out of the deal, citing concerns over bots and fake accounts.

Musk said Tuesday that there are still a few "unresolved matters" about the deal at the Qatar Economic Forum in Doha.

Driving the news: Twitter's board said in a filing with the U.S. Securities Exchange Commission that it "unanimously recommends that you vote [for] the adoption of the merger agreement."

Musk met with Twitter employees last week for the first time since he launched his bid to acquire the company.

Go deeper... A timeline of the Musk-Twitter deal so far

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Twitter board endorses Elon Musk's takeover bid

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