A majority of Twitter shareholders have voted to approve the $44 billion acquisition of Elon Musk. During a special shareholders’ meeting that lasted about seven minutes, shareholders approved two proposals: one to adopt the merger deal with Musk and another related to how company executives will be compensated as a result of the deal.
Both measures were approved, although Twitter will disclose the final breakdown of the votes “at a later date” when it files the documentation with the Securities and Exchange Commission.
Although shareholders formally approved the deal, which valued each share at $54.20, a Delaware chancery court will determine whether Musk can terminate the deal. Musk initially cited concerns about bots and spam as reasons for ending the merger deal, although Twitter’s lawyers argued that he was actually worried about the judge in the event that Musk will be able to add to the claims raised by the former chief of staff. company security turned whistleblower, Peiter Zatko. , to his legal offer.
Separately, Zatko testified at a Judiciary Committee hearing on Tuesday, during which he shed new light on his allegations that Twitter’s security practices are a risk to US national security.
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