The business approved Musk’s initial offer to buy Twitter back in April, despite the shareholders’ initial attempts to block the acquisition. Musk, though, abandoned his offer to purchase the business in July. According to CNBC, Twitter shareholders have decided to support Elon Musk’s $44 billion purchase of the company.
Done Deal
The announcement by Twitter shareholders that the purchase has been approved coincides with the continuing legal dispute between Musk and Twitter, whose trial is scheduled to start in October. Musk withdrew his bid to purchase Twitter shortly after Musk filed the lawsuit, but Twitter has made it apparent that it still intends to try to finalize the deal.
A Few Things to Say
Musk will contend that Twitter has been hiding important details about its internal workings. This includes Peiter “Mudge” Zatko, the former head of security at Twitter, last month’s charges concerning the platform’s loose security procedures and the quantity of bot accounts that have been registered there.
Zatko’s allegations from last month caught the attention of lawmakers who conducted a hearing today about Twitter’s data practices. Zatko spoke before the Senate Judiciary Committee as the trial date for the case approaches.