Twitter Inc. said Tuesday it filed a preliminary proxy statement with the US Securities and Exchange Commission for its proposed $44 billion acquisition by billionaire Elon Musk.
“Twitter is committed to completing the transaction on the agreed price and terms as promptly as practicable,” the company said in a statement Tuesday.
“The preliminary proxy statement contains important information including the background of, and reasons for, Twitter’s transaction with Mr. Musk,” the company added.
The social media firm said it is committed to completing the deal at the agreed price of $54.20 per share and other terms as quickly as possible.
Earlier, Tesla CEO Musk tweeted that the transaction “cannot move forward” until Twitter shows proof that the number of fake/spam accounts is below 5%.
The deal, which is expected to close this year, still requires shareholder and regulatory approval.
A global media for the latest news, entertainment, music fashion, and more.
