A majority of Twitter shareholders have accepted the social networking company’s $44 billion sale to Elon Musk, according to people familiar with the vote tally, according to a report on Monday.
Tuesday is the deadline for shareholders to vote on the merger, but sources claim that by Monday night, a sufficient number of investors had already cast their ballots to ensure a successful outcome.The sources prefer anonymity until a formal announcement.
Shareholders were mostly expected to vote in favour after a stock market downturn made Musk’s April deal for $54.20 per share for Twitter appear costly in the current environment. Requests for comment from Musk were not immediately fulfilled.A Twitter share currently costs around $41.
Because Twitter had misled him about the platform’s spam accounts and had not told him of a pay settlement it had reached with one of its senior workers, Musk informed that he would not move through with the acquisition. The following month, the two sides are anticipated to battle it out in court.
