© Reuters. FILE PHOTO: Elon Musk’s Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration//File Photo
NEW YORK (Reuters) – Institutional Shareholder Services Inc (ISS) wrote in a note on Tuesday that Twitter Inc (NYSE:) shareholders should vote in favor of the social media company’s $44 billion sale to Elon Musk.
The ISS recommendation was widely expected to be in favor of the deal given that valuations of technology companies plunged after Musk inked his deal in April to buy Twitter for $54.20 per share. Twitter shares are now hovering around $40.
Twitter has sued Musk in a Delaware court after he gave notice to the company that he does not plan to go ahead with the deal, arguing he was misled over the number spam accounts on its platform. Musk has also seized on claims of a Twitter whistleblower regarding cyber security issues at the company.
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