Twitter shareholders vote to approve Elon Musk’s $44 billion acquisition

A majority of Twitter shareholders have voted in favor of Elon Musk’s $44 billion acquisition. During a special meeting of shareholders that lasted about seven minutes, shareholders approved two proposals: one to accept the merger agreement with Musk and one related to how the company’s executives will be compensated as a result of the deal.

Both measures were approved, although Twitter will disclose the final vote breakdown “at a later date” when it files the paperwork with the Securities and Exchange Commission.

Although shareholders officially approved the deal, which valued each share at $54.20, a trial in the Delaware Court of Chancery will determine whether Musk is able to terminate the agreement. Musk initially cited concerns about bots and spam as reasons for terminating the merger deal, although Twitter’s lawyers argued he was actually concerned about the event Musk add claims from the company’s former security chief-turned-whistleblower Peiter Zatko could , to his legal offer.

Separately, Zatko testified at a Judiciary Committee hearing on Tuesday, where he threw new evidence into his claims that Twitter’s security practices pose a risk to the national security of the United States.

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https://www.engadget.com/twitter-shareholders-vote-to-approve-elon-musk-44-billion-acquisition-172106160.html?src=rss Twitter shareholders vote to approve Elon Musk’s $44 billion acquisition

Russell Falcon

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