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Twitter shareholders okay $44bn Musk deal

Twitter shareholders okay $44bn Musk deal
Elon Musk

Twitter shareholders have voted to accept Elon Musk’s $44 billion buyout deal despite the Telsa boss trying to walk out of the contract.

According to TechCrunch, the bird app shareholders okayed Musk’s buyout deal on Tuesday.

Twitter’s shareholder vote happened the same day a former Twitter security lead Peiter Zatko testified before Congress over his explosive whistleblower report documenting the security and privacy lapses he witnessed as an executive at the company.

Twitter asked its shareholders to approve Musk’s bid back in June, a step that would clear the way for the deal to go through.

Howbeit with Twitter suing Musk to force him to follow through, though relevant, the vote is not the only thing needed to conclude the buyout deal.

Musk offered $54.20 per share for the company back in April, prior to a significant market dip spurred by record inflation and ongoing geopolitical chaos that’s thrown economies around the world into a tailspin.

Twitter and Musk will meet in court on October 17 for a five-day trial that will determine if the company can force the tech executive and the world’s richest man to go through with the acquisition.

In the meantime, Musk is leveraging every possible angle to kill the deal, including bringing emerging allegations from Zatko into his countersuit against the company.

Musk sent Twitter yet another letter of his intent to terminate the deal on Monday, this time arguing that Twitter’s reported $7 million severance payment to its outgoing security lead violated the acquisition agreement.

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