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Twitter's board of directors has recommended that its shareholders vote in favour of the proposed $44 billion sale.
The board unanimously "determined that the merger agreement is advisable and the merger and the other transactions contemplated by the merger agreement are fair to, advisable and in the best interests of Twitter and its stockholders," it said in a statement filed with the Securities and Exchange Commission.
In April, Musk offered $54.20 per share. Since then, the company's shares have fallen along with the overall market decline. A share of Twitter is now worth about $39.
Earlier in June, Musk threatened to back out of the deal entirely after accusing Twitter of providing incorrect information on the number of fake and spam accounts.
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