Twitter app emblem is seen on this illustration taken, August 22, 2022. REUTERS/Dado Ruvic/Illustration
Sept 12 (Reuters) – A majority of Twitter Inc’s (TWTR.N) shareholders have voted in favor of the social media firm’s $44 billion sale to Elon Musk, individuals accustomed to the tally mentioned on Monday.
The deadline for the shareholder vote on the deal is on Tuesday however sufficient traders had voted by Monday night for the end result to make sure, the sources mentioned.
The sources requested anonymity forward of an official announcement. Twitter and Musk representatives didn’t instantly reply to requests for remark.
Shareholders have been broadly anticipated to vote in favor after a inventory market downturn made Musk’s $54.20-per-share deal for Twitter, which was signed in April, look dear within the present atmosphere. Twitter shares are actually hovering round $41 per share.
Musk has knowledgeable Twitter he is not going to go forward with the acquisition, arguing he was misled over the spam accounts on the platform and was not notified of a pay settlement the corporate reached with one in every of its high executives. The 2 sides are scheduled to battle it out in courtroom subsequent month. learn extra
Reporting by Svea Herbst-Bayliss in Rhode Island; Modifying by Greg Roumeliotis
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