Twitter shareholders approve $44bn Musk deal

Elon Musk’s offer to buy Twitter for $44 billion (£38 billion) was approved by a majority of Twitter’s shareholders.Information Guide Nigeria

In a brief conference call with investors, the choice was made by corporate executives in San Francisco.

As a result, Twitter will now try to use the legal system to compel Elon Musk to acquire the business.

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Peiter Zatko, the former director of security at Twitter, gave bombshell testimony before the US Senate before the meeting.
In April, Twitter and Elon Musk, the richest man on earth, reached an agreement to sell the firm.JAMB Result

The transaction, however, fell through after Mr. Musk claimed Twitter misled him about the volume of spam and bot accounts on the service.

Elon Musk’s offer to buy Twitter for $44 billion (£38 billion) was approved by a majority of Twitter’s shareholders.

In a brief conference call with investors, the choice was made by corporate executives in San Francisco.

As a result, Twitter will now try to use the legal system to compel Elon Musk to acquire the business.

Peiter Zatko, the former director of security at Twitter, gave bombshell testimony before the US Senate before the meeting.
In April, Twitter and Elon Musk, the richest man on earth, reached an agreement to sell the firm.

The transaction, however, fell through after Mr. Musk claimed Twitter misled him about the volume of spam and bot accounts on the service.

Less than 5% of the social media platform’s monetizable daily active users (those who can view advertisements) are bots, according to the company. According to Mr. Musk, it might even be much higher.

Twitter is presently valued at $32 billion, which is far less than Mr. Musk’s $44 billion offer.

The outcome of today’s vote might have put an end to Twitter’s legal action, but now that shareholders have approved it, the corporation is free to sue Elon Musk.

In October, the two are scheduled to appear before a Delaware state court. A judge will make a decision regarding Mr. Musk’s obligation to purchase the business during the hearing.

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