Twitter board recommends shareholders vote in favor of acquiring Musk

Twitter’s board of directors unanimously recommended that shareholders of the social media company vote to approve its sale to Elon Muskaccording to a regulatory documentit is Tuesday (21).

the twitter (TWTR) plans to hold a special shareholders meeting to vote on the acquisition, one of the final steps needed to close the deal, in a undisclosed date in the coming months.

The board said in the document that it determined that “none of the possible alternatives to the merger,” including remaining independent or seeking a different buyer, were likely to be better for shareholders than the deal with Musk.

The board unanimously agreed to sell the company to Musk for $44 billion in April after the billionaire CEO of Tesla (TSLA) became the network’s largest shareholder and hinted that it might attempt a hostile takeover of the company.

Tuesday’s filing is the latest indication that the company is moving forward with the deal as planned, despite doubts raised by Musk in recent weeks.

Musk suggested that he might try to depart from the agreement because of their concerns about the number of bots and fake accounts on the platform. Musk participated in a strange general meeting with Twitter employees last week, during which he answered questions and discussed his plans for the company, although he did not explicitly reaffirm his commitment to fulfilling the agreement.

he said in interview with Bloomberg on Tuesday that there are “some unresolved issues” related to the deal, reiterating his concern for bots.

Although Musk is the richest person in the world, much of his wealth is tied to Tesla shares, which have dropped sharply in recent weeks. Much of the tech sector, including social media companies, has also seen stocks hit hard amid a broader market downturn.

Twitter shares continue to trade well below the $54.20 a share Musk offered in April, suggesting investors remain skeptical of the deal, that is, completed at that price.