Twitter's shareholders have overwhelmingly voted for Tesla CEO Elon Musk to take over the social media platform. ElonMusk lawsuit
Twitter's Shareholders Overwhelmingly Vote for Elon Musk to Take Over the Social Media Platform
Twitter’s shareholders have overwhelmingly voted for Tesla CEO Elon Musk to take over the social media platform. “Approximately 98.6% of the votes cast at the special meeting approved the proposal to adopt the merger agreement,” the social media giant said.Twitter Inc. announced Tuesday that its stockholders have approved the previously announced $44 billion agreement for Tesla CEO Elon Musk to acquire the social media platform.Approximately 98.
“The shareholder approval satisfies the final condition precedent to the closing of the merger under the merger agreement ,” Twitter explained, elaborating: Twitter stands ready and willing to complete the merger with affiliates of Mr. Musk immediately, and in any event, no later than on September 15, 2022.to buy Twitter for about $44 billion in April. However, he subsequently accused the social media company of a “material breach” of their agreement in June. The Twitter deal is “temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk said at the time.
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