Twitter’s board has unanimously recommended shareholders approve Elon Musk’s $44bn takeover, despite a rocky few months of discussions.
The news comes after Musk met with Twitter employees last week at the company all-hands, and reasserted his desire to snap up the firm.
According to a regulatory filing to the US Securities and Exchange Commission on Tuesday, Twitter’s board of directors said that it “unanimously recommends that you vote (for) the adoption of the merger agreement”.
Musk offered $54.20 a share for Twitter, a 38 percent premium over the company’s share price before he revealed he was the firm’s single largest shareholder.
The Twitter stock is currently trading at $38.46 a share, meaning that investors could cash in a profit of around $15 for each share they own.
It is now up to shareholders to vote on whether to move forward with the deal.
A date is yet to be set for the vote.