Shareholders approve sale of Twitter, but Musk no longer wants to buy

By Isabella Caminoto / 13/09/2022 / 1 minute reading

Twitter shareholders approved, this Tuesday (13), the purchase of the social network by Elon Musk for the value of 44 billion dollars. The outcome of the agreement, however, will be defined in a legal battle between the company and the billionaire, who in July gave up on going ahead with the acquisition.

The vote took place in a general assembly that lasted a few minutes, in which the majority of votes were cast online.

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Twitter shareholders have voted in favor of Elon Musk's $44 billion takeover deal, a value of $54.20 per share. The vote came days after Musk's third letter to Twitter seeking to terminate their deal. https://t.co/A4hZf9tvEZ
- CNN Breaking News (@cnnbrk) September 13, 2022

The deadline for shareholders to vote on the agreement was this Tuesday (13). Twitter went to court to make Musk fulfill his commitment to acquire the company and a trial is scheduled for next month.

The businessman left the negotiation because he had been deceived about the number of fake and spam accounts on the platform. Musk also claims he was not informed about a salt dealarial that the company achieved with one of its top executives.

The trial of the dispute between Twitter and Musk will take place on October 17th, at the Court of Chancelaria of Delaware.

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(With AFP)

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Isabella Caminoto

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