Twitter shareholders on Tuesday approved the $44 billion bid of billionaire Elon Musk to buy the social media platform. At present, Twitter’s trading price is under $42 compared to the approval of Musk’s offer at $54.20.
Notably, Musk has attempted to back out from the deal, alleging there were problems with the business of the company. However, Twitter is using all its might to go ahead with the deal. Both Musk and Twitter are currently in a court battle over the deal.
Twitter, in a statement, said that the shareholders had given their assent to the deal. Twitter CEO Parag Agrawal gave brief remarks at the virtual meeting for the voting following which the assent was given. Twitter said, “Based on a preliminary tabulation of the stockholder vote, approximately 98.6% of the votes cast at the Special Meeting approved the proposal to adopt the Merger Agreement.”
The company further added, “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, the second business day following the satisfaction of all conditions precedent, which is the timeline required by the merger agreement.”
A global media for the latest news, entertainment, music fashion, and more.
