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Elon Musk’s $44 billion Twitter deal gets board endorsement

Tesla CEO Elon Musk attends the opening of the Tesla factory Berlin Brandenburg in Gruenheide,...
Tesla CEO Elon Musk attends the opening of the Tesla factory Berlin Brandenburg in Gruenheide, Germany, Tuesday, March 22, 2022. Shares of Tesla and Twitter have tumbled this week as investors deal with the fallout and potential legal issues surrounding Tesla CEO Musk and his $44 billion bid to buy the social media platform. Of the two, Musk's electric vehicle company has fared worse, with its stock down almost 16% so far this week to $728. (Patrick Pleul/Pool via AP, File)(Patrick Pleul | AP)
Published: Jun. 21, 2022 at 5:40 AM PDT
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NEW YORK (AP) — Twitter’s board is recommending that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk.

Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain far below his offering price, signaling considerable doubt that it will happen.

Shares are up about 3% before the opening bell Tuesday, far short of the $54.20 per-share that Musk has offered for each share.

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