Consulting firms urge to support takeover

Despite Elon Musk’s attempts to back out of the proposed acquisition, two prominent advisory companies are urging Twitter Inc. shareholders to embrace the move.

Institutional Shareholder Services Inc. and Glass Lewis & Co. released reports on Tuesday recommending stockholders support the merger.

Investors should focus on the offer, not the noise around it

ISS stated that even though the circumstances are special, investors should concentrate on the specifics of the offering rather than the commotion surrounding it.

According to Glass Lewis, the offer price would enable shareholders to obtain both a premium for the company’s non-affiliated shareholders and a reasonably attractive exit price.

The company stated in a statement that it believed the proposed merger was probably the best option at this time to maximize shareholder value given the decreasing expectations for the company’s prospects as a stand-alone company and a broader market sell-off in recent months. Lewis Glass

In fact, both businesses pointed out that a number of institutional shareholders had encouraged the board of directors to give Musk’s idea serious consideration.