Twitter board votes to accept Elon Musk’s buyout offer

Fox Business reported this week that Twitter’s board of directors has voted to accept billionaire Elon Musk’s offer to purchase the social media platform.

Given Musk’s public support for free speech and growing willingness to criticize the left, that move may give Democrats like President Joe Biden and Vice President Kamala Harris reason to worry. 

Musk says there are still other hurdles to clear before deal can be finalized

In its report, Fox Business cited a statement that Twitter submitted on Tuesday to the Securities and Exchange Commission:

“The Twitter Board, after considering various factors described in the section of this proxy statement captioned “The Merger— Recommendation of the Twitter Board and Reasons for the Merger,” has unanimously: (1) determined that the merger agreement is advisable and the merger and the other transactions contemplated by the merger agreement are fair to, advisable and in the best interests of Twitter and its stockholders; and (2) adopted and approved the merger.”

However, the cable network also pointed to comments Musk made during an appearance at the Qatar Economic Forum on Tuesday which suggested that getting board’s approval was only one of several conditions needed to close the deal.

One issue is whether debt financing for his acquisition of the tech giant will come together, while another is his concern over the prevalence of spam and bot accounts on Twitter.

Should the deal be finalized, then many expect Musk to make good on his promise to overhaul the company’s censorious content policy, something which he has acknowledged disproportionately impacts conservatives.

Billionaire calls out Biden administration

Further, Musk has himself grown more critical of Democrats in general and the Biden administration in particular. During a podcast interview in May, the Tesla CEO suggested that Joe Biden isn’t really in charge of his administration.

“The real president is whoever controls the teleprompter,” he said, adding, “The path to power is the path to the teleprompter.”

What’s more, Musk also announced last week that he had recently voted Republican for the first time in his life, casting a ballot for Texas congressional candidate Mayra Flores.

Flores won a special election in Texas’ traditionally Democratic 34th Congressional District, becoming the first Republican to do so in modern times.

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