Twitter Shareholders Approve $44 Billion Musk Deal

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Twitter shareholders approved a $44 billion buyout by Elon Musk on Tuesday, handing over the deal’s outcome to a court battle in which the billionaire is trying to scrap the purchase.

The tally came during a shareholder meeting on Tuesday that lasted just minutes, with most of the votes having been cast online.

Musk said in July that he was terminating the agreement to buy Twitter, accusing the company of failing to provide information about fake or spam accounts on its platform.

Twitter has rejected his claims and filed a lawsuit asking a court in Delaware to hold Musk to the deal. A trial is set for next month.

“Musk apparently believes that he – unlike every other party subject to Delaware contract law – is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” Twitter’s lawsuit reads.

Twitter’s board unanimously agreed to sell the platform to Musk for $44bn in April, in a deal that stirred controversy and questions about free speech and misinformation on the popular social media platform.

But months later, Musk’s lawyers said Twitter failed or refused to respond to multiple requests for information on so-called “spam bot” accounts, which is fundamental to the company’s business performance – and they moved to back out of the purchase.

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