Twitter shareholders voted to approve the $44 billion offer made by Elon Musk.
In the voting, it was seen that most of the shareholders were warm to Elon Musk’s offer.
Twitter Shareholders Vote for the Deal
According to Bloomberg’s report, Twitter shareholders voted for Elon Musk’s $44 billion buyout offer.
Musk’s $54.20 stock offer to buy Twitter is backed by shareholders. Shares of the company are currently trading at $41.92.
Despite getting the shareholder approval required to approve the deal, Elon Musk stated that he wanted to withdraw from the deal, citing concerns about bot and spam accounts on the social media platform. Musk took the matter to court for this. In his application to the SEC, Musk stated that Twitter did not fulfill its contractual obligations.
According to Musk’s lawyer, Twitter did not provide the business information Musk had requested. Tesla CEO said in a previous statement that 5% of Twitter users will consider allegations that they are fake accounts.
Lawyers representing Elon Musk and Twitter will face off in the lawsuit, which will take place on October 17 at the Delaware Chancery Court.
