Twitter shareholders vote in favor of sale to Elon Musk

On Monday, a majority of the shareholders voted to sell the social media platform Twitter to Elon Musk at a price of $44 billion. The deadline to vote on this topic was Tuesday, but the shareholders voted on Monday and cleared things on time. While the resources said that the anonymity ahead said that there is not any official announcement made yet. The Twitter representatives, and Musk, did not immediately report the requests and the comments. 

 

Elon musk informed Twitter that he will not go ahead with the acquisition, he was misled over the spam accounts on the platform and he was not notified to pay a settlement the company reached with one of its top executives. These are the two sides that will be scheduled to battle it out in court next month. 

 

But the shareholders are widely expected to vote in favor of Musk as they made a deal of $54.20 per share for Twitter. And it was signed in April, which looks pricey in the current scenario. On Monday, Twitter said payments made to a whistleblower did not breach any terms of its sale as he is the world’s richest man and made another attempt to scrap the deal. 

 

The Twitter lawyer even said that Musk made the reasons to want to back out of the deal as it was invalid and wrongful. 

 

FAQ

• At which price is the twitter share hovering?

Ans. $41

• What is the deadline to vote?

Ans. Tuesday 

• On which day, do the shareholders vote?

Ans. Monday