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.
On Tuesday at the Qatar Economic Forum in an interview with
Bloomberg, Musk listed the approval of the deal by shareholders as one of
several “unresolved matters” related to the Twitter deal.
Shares of Twitter Inc. were essentially flat just before the
opening bell Tuesday and far short of the $54.20 per-share that Musk has
offered to pay for each. The company's stock last reached that level on April 5
when it offered Musk a seat on the board before he had offered to buy all of
Twitter.
In a filing with the U.S. Securities and Exchange Commission
detailing on Tuesday detailing a litter to investors, Twitter's board of
directors said that it “unanimously recommends that you vote (for) the adoption
of the merger agreement." If the deal were to close now, investors in the
company would pocket a profit of $15.22 for each share they own.