Twitter Commits to Completing the Transaction with Musk on the Agreed Price

Twitter, Inc. today announced that it has filed its preliminary proxy statement with the U.S. Securities and Exchange Commission in connection with the previously announced agreement for Twitter to be acquired by affiliates of Elon Musk for $54.20 per share in cash. Twitter is committed to completing the transaction on the agreed price and terms as promptly as practicable. The transaction is subject to the approval of Twitter stockholders, the receipt of applicable regulatory approvals and the satisfaction of other customary closing conditions, and is expected to close in 2022. Previously, Musk said the deal could not move forward unless Twitter proved that the fake accounts were less than 5%.