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Twitter Shareholders Approve Musk Buyout Offer: Report
The Tesla CEO has repeatedly tried to back out of the $44 billion takeover deal.
Twitter (TWTR) shareholders have voted in favor of Elon Musk’s $44 billion takeover bid for the social networking giant, according to Bloomberg. Shareholder approval was required for the completion of the deal.
The vote comes two weeks after a filing that showed the Telsa CEO had sent a second letter calling off his acquisition efforts. Musk initially offered to acquire Twitter in April, backed out the following month citing concerns about the number of fake accounts on the platform, and then sent his first letter in July that claimed Twitter provided false and misleading information.
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The takeover offer values Twitter at $54.20 per share. Twitter shares are currently up 1.6% to $42.09.
Brandy Betz
Brandy covered crypto-related venture capital deals for CoinDesk. She previously served as the Technology News Editor at Seeking Alpha and covered healthcare stocks for The Motley Fool. She doesn't currently own any substantial amount of crypto.
