The proposed acquisition of Twitter by Tesla CEO Elon Musk was approved today at a general meeting of shareholders of the social messaging network.
Shareholders approved a US$44 billion purchase bid made in April by the owner of electric car maker Tesla.
Thus, the majority of shareholders voted to accept Musk’s offer to acquire the social network in the amount of $54.2 per share.
Musk has been trying to get out of the deal ever since, as you may recall, but Twitter’s board of directors, along with two major law firms, urged investors to give the green light to the deal.
Twitter shares are currently trading at $41.84, well below the price offered by Elon Musk.
The AH lasted seven minutes, while the voting period lasted only three. Shareholders have been able to vote in recent weeks.
While this approval was necessary to finalize the agreement, its completion is far from certain, according to Bloomberg. In July, Musk said he was going to terminate the sale agreement, claiming that the social network misled him about the size of the user base and the number of fake accounts (“bots”) and accounts for spreading “spam”. .
Twitter denies Elon Musk’s allegations and has sued the owner of Tesla and SpaceX, filing a lawsuit in Delaware court to force him to complete the acquisition. Musk counterattacked, also suing the social network, so there’s still plenty of water.
The multimillionaire’s legal team is demanding that the social messaging network provide the names of employees responsible for calculating the percentage of “bots” among platform users. Something that Twitter refuses to do.
(news update)
