Twitter Shareholders Vote To Approve Elon Musk’s $44 Billion USD Twitter Deal
Musk will take the company to trial in October.
A majority of Twitter shareholders have voted in favor of approving Elon Musk’s $44 billion USD buyout of the social media platform. As Musk continues his fight to pull out of the deal, company shareholders approved two different proposals during the meeting, which reportedly lasted a total of seven minutes.
The first proposal was to proceed with the merger agreement with Musk, in which Twitter would be sold to Musk as a private company, while the second pertained to how Twitter executives would be paid if the deal goes through.
Twitter hasn’t yet shared the exact number of shareholders that voted in favor of the two proposals but will reveal that information at a later date when it files the voting agreement with the Securities and Exchange Commission.
Musk, meanwhile, plans to argue that Twitter is concealing the number of bots on the platform as his basis for wanting out of the deal at an October trial. The SpaceX and Tesla CEO will be utilizing the claims of Twitter’s former security chief-turned-whistleblower Peiter Zatko, who alleges major security failures at the company.
In other tech news, Comcast is introducing 2Gbps internet in the U.S.
