Most Twitter shareholders vote in favor of sale to Musk-sources

By Svea Herbst-Bayliss

(Reuters) – A majority of Twitter Inc’s shareholders have voted in favor of the social media firm’s $44 billion sale to Elon Musk, individuals conversant in the tally mentioned on Monday.

The deadline for the shareholder vote on the deal is on Tuesday however sufficient buyers had voted by Monday night for the result to make certain, 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 extensively 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 expensive within the present setting. Twitter shares at the moment are 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 considered one of its high executives. The 2 sides are scheduled to battle it out in courtroom subsequent month.

(Reporting by Svea Herbst-Bayliss in Rhode Island; Modifying by Greg Roumeliotis)