Twitter’s Board of Directors unanimously recommended that shareholders approve the $44 billion acquisition of the social network by Elon Musk. SEC document.

“The Twitter Board of Directors has unanimously decided that the transfer agreement is appropriate, taking into account the elements explained in more detail in the accompanying interim statement. […] and meets the interests of the company and its shareholders,” the document states.

Shares of TWTR rose about 2% after trading opened. The current market capitalization of the company is $29.44 billion.

Below is a list of Twitter’s largest shareholders:

Had the deal been closed now, each would have earned more than $15 per share. Former Twitter CEO Jack Dorsey would make almost $978 million.

Recall that at the end of April, Elon Musk agreed to buy Twitter. The billionaire made a takeover offer to the management of the company in the middle of the month.

The entrepreneur declared his intention not out of a desire to make money, but to create an “inclusive arena for freedom of speech”.

Initially, the Twitter board viewed Musk’s proposal negatively, but later revised its position.

In May, the billionaire suspended the acquisition process due to reports of inflated social media viewership numbers. During the conversation, he said that the number of daily active users of Twitter should reach 1 million per day. Their numbers in the first quarter were 229 million.

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