Twitter, Inc. announced this Tuesday, May 17, that it has filed its preliminary statement with the United States Securities and Exchange Commission in connection with the previously announced agreement for Twitter be acquired by affiliates of Elon Musk for $54.20 per share in cash.
Twitter agrees to complete the transaction at the agreed price and terms as soon as possible.
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The preliminary proxy statement contains important information, including the background and rationale for Twitter’s transaction with Musk.
The transaction is subject to Twitter shareholder approval, receipt of applicable regulatory approvals and satisfaction of other customary closing conditions, and is expected to close in 2022.
The tech tycoon is concerned as he is waiting for the social network founded by Jack Dorsey to clean up the number of fake accounts and bots on the platform.