According to a report, Twitter shareholders on Tuesday voted in favor of Elon Musk’s deal to acquire the microblogging service for $ 44 billion (about Rs 3,49,800 crore). The result of the shareholder vote, which was announced Tuesday, comes a month ahead of the upcoming legal battle between the Tesla CEO and Twitter, which will begin October 17 in Delaware Chancery Court. Musk agreed to buy Twitter earlier this year, but pulled out of the deal in July.
Reuters on Tuesday informed of Twitter shareholders voted to approve Tesla CEO Elon Musk’s deal to buy the microblogging service. Musk had agreed to buy Twitter for $54.20 (approximately Rs 4,300) per share, much higher than Tuesday’s price of $43.20 (approximately Rs 3,400). The deadline for voting on the deal was Tuesday, and the result cleared the way for the world’s richest man to acquire the company.
However, the Tesla CEO has repeatedly stated that he does not want to go ahead with the acquisition deal, and has sent several letters to Twitter calling for the deal to be terminated. The most recent of these communications was last week, when Musk’s lawyer notified Twitter said they were not informed about the money have paid For a former employee believed to be whistleblower Peter Zatko. twitter is denied Claims that the payment violated the terms of the deal.
Musk to trial in Delaware Chancery Court ahead of trial starting October 17 Is allowed for the inclusion of Zatco’s charges against the company by the court. Twitter’s former security chief alleged That the firm misled the US Federal Trade Commission (FTC) about the company’s safeguards as part of a settlement in 2011. He also alleged that Twitter had serious security flaws affecting the platform, and that one or more employees were acting on its behalf. foreign governments.
Back in July, Musk attempted to back out of the deal to acquire Twitter, claiming that That he was provided with false information about the number of spam or fake accounts on the company. In July, the company sued Tesla’s CEO, Call His exit strategy is “a model of hypocrisy”. twitter first Claimed Musk was trying to “slow down” the test, which will begin next month.