BREAKING: Twitter board unanimously recommends Musk's takeover bid
The deal, which is currently expected to close in 2022, would take Twitter private at $54.20 per share. The filing comes as Musk said in an interview Tuesday at the Qatar Economic Forum that shareholder approval was one of three "unresolved matters" that stands in the way of the deal.
In addition to shareholder approval, Musk said that debt financing for the deal would need to come together. The billionaire has pledged $33.5 billion in equity financing and has received commitments from Morgan Stanley Senior Funding Inc. and other financial institutions for up to $13 billion in debt financing.
He also said that he is waiting for a resolution to his dispute with Twitter over the total percentage of spam and fake accounts on the platform, which he called "a very significant matter." Though Twitter has maintained that spam and fake accounts make up less than 5% of its users, Musk believes the figure is at least 20%.
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