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Twitter Shareholders Gave Votes In favour Of Elon Musk


Twitter Shareholders Gave Votes In favour Of Elon Musk

By TechThop Team

Posted on: 13 Sep, 2022

The Deadline 

The sources said the final date for the shareholder vote on the deal is Tuesday, but enough investors had given their vote by Monday evening for the result to be as expected.

The Battle 

Musk has told Twitter he will not go further with the acquisition, arguing he was hoodwinked over the fake accounts on the platform and was not notified of a pay settlement the company reached with one of its prior executives, and they will do battle in court. 

The Sharemarket Trends 

Shareholders were highly expected to vote in favour after a stock market downturn made Musk's $54.

The Sharemarket Trends 

20-per-share deal for Twitter, which was signed in April, look pricey in the current environment. Twitter shares are now hovering around $41.

The Whistleblower 

Last week, Musk's lawyers said Twitter failed to seek his consent before paying $7.75 million to whistleblower Peiter Zatko.

The Whistleblower 

His lawyers violated the merger agreement, which restricts when Twitter could make such payments.

The Analysis

Wedbush analyst wrote in a note, 'With the Musk camp now being allowed to include the Zatko claims in its testimony for Delaware, tomorrow's hearing will be closely watched by the Street.

Twitter Vs. Musk

The Twitter vs Musk trial is scheduled to start on Oct. 17 in Delaware Chancery Court.


Lawyers for Musk, who is also CEO of electric car maker Tesla Inc, were not immediately available for comment.

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