Twitter Shareholders Approve Musk acquisition Offer

Big New! Shareholders from Twitter have approved Tesla CEO Elon Musk’s  $44bn offer to buy the company. This decision was taken during a shareholding meeting held on Tuesday where all the Twitter shareholders were of the opinion to grant the deal.

These votes from the shareholders have come two weeks after the court filing that showed that Elon Musk has called off the deal. Initially, Musk offered to acquire Twitter in April however over certain concerns regarding fake accounts has asked to cancel the deal and sent the first letter in July revealing that the company provided him with fake and misleading information. With this, the takeover offer values Twitter at $54.20 per share. Twitter shares are currently up 1.6% to $42.09.

Twitter rejected all the claims of Elon Musk and has filed a lawsuit in court.

“Musk apparently believes that he – unlike every other party subject to Delaware contract law – is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,”

On this Musk, the lawyer said that Twitter refused to respond to multiple requests for information.

“Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information,”