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Twitter shareholders overwhelmingly give THUMBS UP Elon Musk`s $44 billion twitter takeover deal
Twitter Inc in a statement said that its stockholders have approved the previously announced merger agreement for Twitter to be acquired by affiliates of Elon Musk for $54.20 per share in cash.
Highlights
- Twitter shareholders overwhelmingly approve Musk's Twitter takeover deal.
- Musk offered to purchase Twitter at a value of $54.20 per share.
- Musk asks by Twitter to compel the deal not later than September 15, 2022.
San Francisco: Elon Musk is trying run away from his Twitter takeover deal at any cost, however, the shareholders are not in mood to leave him at peace. Another twist emerges out from the Twitter takeover saga. The majority of the company’s shareholders has overwhelmingly approved Elon Musk’s $ 44 billion takeover deal at a value of $54.20 per share. Besides, they ask Elon Musk to complete the deal not later than September 15, 2022.
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Twitter Inc in a statement said that its stockholders have approved the previously announced merger agreement for Twitter to be acquired by affiliates of Elon Musk for $54.20 per share in cash. Based on a preliminary tabulation of the stockholder vote, approximately 98.6% of the votes cast at the Special Meeting approved the proposal to adopt the Merger Agreement.
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The statement further added that Twitter stood ready and willing to complete the merger with affiliates of Mr. Musk immediately, and in any ever, no later than on September 15, 2022.
It is to be noted that Twitter rejected the notices regarding termination of the merger agreement from Mr. Musk and called it invalid and without merit. Moreover, Musk is bound to continue the merger agreement and obligate to complete the merger on the agreed terms and conditions.