Twitter Shareholders approve Elon Musk’s $44 billion Buyout Offer
The bulk of Twitter's shareholders voted in favour of Musk's buyout offer of $54.20 per share.
TNI Bureau: The shareholders of micro blogging site Twitter on September 13 approved the $44 billion acquisition deal which was inked by the company with billionaire Elon Musk.
The bulk of Twitter’s shareholders voted in favour of Musk’s buyout offer of $54.20 per share.
Musk had made the buyout offer in April, before “terminating” the deal in July citing the “inaccurate representation” of spam accounts on the platform.
The nod from shareholders comes ahead of the trial next month over whether the $44 billion deal should be completed. The courtroom battle is scheduled to begin on October 17.
The San Francisco-based company has sued Musk for terminating the agreement, while the Tesla chief executive countersued, accusing Twitter of misrepresenting the number of false and spam accounts on its service.
Notably, a Delaware judge ruled last week that Musk may include the claims made by Peiter Zatko, a Twitter whistleblower, in his case, but denied his request to delay the trial.