Shares of Twitter Inc. were essentially flat just before the opening bell Tuesday and far short of the $US54.20m ($77.50) 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 US 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 $US15.22 ($21.77) for each share they own.