Majority of Twitter shareholders vote on $44 billion sale to Elon Musk: report – National

The majority of Twitter Inc shareholders voted in favor of the social media company’s $44 billion sale to Elon MuskPeople familiar with the tally said Monday.

Sources said the deadline for a shareholder vote on the deal was Tuesday but enough investors voted on Monday night to be certain of the outcome.

The sources requested anonymity prior to the official announcement. Twitter and Musk’s representatives did not immediately respond to requests for comment. News of the vote is first reported by the Wall Street Journal.

Read more:

Twitter whistleblower payments do not violate the terms of the agreement as Musk claims: company

Musk informed Twitter that he would not proceed with the acquisition, alleging that he had been misled by spam accounts on the platform and was not informed of a payment the company had reached with one of them. its top executives. The two sides are expected to fight it out in court next month.

The story continues below the ad

Shareholders are expected to vote in favor after a stock market downturn made Musk’s $54.20/share deal for Twitter, signed in April, look expensive in the environment. present. Twitter stock currently hovers around $41.

Earlier on Monday, Twitter said payments made to a whistleblower did not violate any terms of the sale to Musk, after the world’s richest man made another attempt. to cancel the agreement.

Twitter’s lawyers said Musk’s reasons for wanting to withdraw from the agreement were “invalid and wrong.”

Click to play video: 'Elon Musk ends $44 billion Twitter purchase'

Elon Musk ends $44 billion worth of Twitter purchases

Elon Musk ends $44 billion worth of Twitter purchases – July 8, 2022

Last week, Musk’s lawyers said Twitter’s failure to obtain his consent prior to paying $7.75 million to whistleblower Peiter Zatko and his lawyers violated the merger agreement restrict when Twitter may make such payments.

Zatko, who was fired by Twitter in January as the company’s chief security officer, accused the social media company last month of falsely claiming it had a solid privacy plan. and making misleading statements about its defenses against hackers and spam accounts.

The story continues below the ad

The accuser will meet with the US Senate Judiciary committee on Tuesday to discuss the charges.

Read more:

Twitter accuser another reason to get out of the deal, says Elon Musk

“With Musk’s camp now allowed to include Zatko’s statements in his testimony to Delaware, tomorrow’s hearing will be closely watched by the Street,” Wedbush analysts wrote in a note.

The Twitter vs Musk trial is scheduled to begin October 17 at the Delaware Chancery Court.

Lawyers for Musk, who is also the CEO of electric car maker Tesla Inc, were not immediately available for comment.

(Reporting by Svea Herbst and Anirban SenAdditional reporting by Nivedita Balu in BengaluruReporting by Anil D’Silva and Matthew Lewis)

Source link


News5s: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button