The proposed acquisition of Twitter by Tesla CEO Elon Musk was approved today at a general meeting by shareholders of the mini social network.
Shareholders approved a takeover offer made in April by the owner of electric car maker Tesla, worth $44 billion.
So the majority of shareholders voted to accept Musk’s $54.2 per share bid for the social network.
Since then, remember, Musk has been trying to scrap the deal — but Twitter’s board of directors, along with two large law firms, have encouraged investors to agree to the deal.
Twitter shares are currently trading at $41.84, well below Elon Musk’s suggested price.
The AG lasted seven minutes and the voting period was only three minutes. Shareholders have been able to cast their votes in recent weeks.
Although this approval was necessary to finalize the agreement, its completion is a far cry from reality, according to Bloomberg. In July, Musk said he intended to tear up the purchase agreement, claiming that the social network had misled him regarding the size of the user base and the number of fake (“bots”) and “spam” accounts. .
Twitter denies allegations made by Elon Musk and has filed a lawsuit against the owner of Tesla and SpaceX, after he filed a lawsuit in Delaware court to force him to complete the acquisition. Musk counterattacked and also sued the social network, so there is still plenty of water to run.
The millionaire’s legal team demands that the micro-messaging social network make available the names of the employees responsible for calculating the percentage of “bots” among the world of platform users. Something Twitter rejects.
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