shareholders approve the takeover… which Elon Musk wants to abandon

While billionaire Elon Musk is doing everything to abandon the takeover of Twitter for 44 billion dollars, the shareholders of the social network “are about to vote for”, report it wall street journal. “The first votes show that the shareholders approve the operation by a large majority”according “knowledgeable people”details daily business, even as Twitter “tries to force the billionaire to sue” his redemption in court.

Shareholders have until their meeting on Tuesday, September 13 at 7 p.m. to vote. Elon Musk, Twitter’s largest shareholder with 10% of the shares, had still not voted Monday, September 12 at the end of the afternoon. The takeover agreement obliges him to vote in favor of the operation. But his support is not decisive, calculated the American daily.

Since Elon Musk announced he wanted to buy the stock at $54.20 last April, the stock has traded “well below” of this amount. In May, the Tesla boss alleged that Twitter violated the terms of the agreement, accusing him of lying about the exact number of fake accounts, to put the offer to purchase “pending”.

Everything to win

“Many shareholders stand to gain if the deal is completed on the original terms”, explains the Wall Street daily. If Elon Musk could figure out how to get out of it, “analysts expect Twitter shares to fall significantly”.

However, we will have to wait for justice to decide. Twitter accuses Elon Musk of having “changed his mind when the market went down” and wants to force him to make the deal. “The two sides are due to face off in Delaware court beginning October 17.”

Coincidence of calendar, it is also this Tuesday that the former specialist in cybersecurity at Twitter Peiter Zatko, who had denounced this summer the breaches in the security of the social network, is heard by the American Senate.

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