Los Twitter shareholders they are trying to make the vow where they have to decide whether to approve or reject the purchase of the company by Elon Musk to move on. The $ 44 billion acquisition would have been approved by investors before the deal was frustrated and resulted in complaints from both sides.
Internal sources of the social network assure that investors are trying to get the result of the vote to be their approval, which would put the future of the agreement in the hands of the courts, as published exclusively by the Wall Street newspaper.
Voting is already underway and the first votes would give a large majority to approve of the purchase of Twitter by the CEO of Tesla. However, the possibility exists that this may vary, as shareholders can change their vote until the last moment at a meeting scheduled for Tuesday 13 September.
Approval largely depends on the social network’s big shareholders, including Musk himself. Tesla and SpaceX’s CEO owns a 10% stake in the company, but is not expected to position himself for or against the acquisition, according to the report. Wall Street newspaperhow Musk’s position is to claim that Twitter has violated his agreement.
Even so, the vote could go on if other majority shareholders give the green light. This is the case with index funds which, collectively, they control about 20% of the shares.
These funds would also have given their approval in the vote, according to internal sources, which could ensure that it proceeds and that the outcome of the operation remains in the hands of the court of Delaware who is bringing the Twitter case against Musk.
judicial drift
The judicial drift of the case has already given rise various notable events. At the end of April this year, Musk announced he was buying Twitter for a price of 54.20 dollars per share (53.46 euros). Tesla CEO in mid-May temporarily suspended the acquisition until verifying that the fake accounts of the social network were less than 5% of the total.
Days later, a group of Twitter shareholders decided to sue Musk making sure the tycoon was just trying to sink the company’s stock with that move. In June, the organization’s board of directors asked its investors to vote in favor acquisition to proceed with the purchase.
Elon Musk tries again to cancel the Twitter purchase: this time for the millionaire compensation to his former head of security
In the end, Tesla’s CEO decided to cancel the purchase in July and the social network announced it would take the billionaire to court to enforce the deal.
Since then, the case has escalated to the point of offering several twists. One of the most notable was the appearance of a deep Throat the TwitterPeiter Zatko, a former security director of the company who testified in the US Senate.
Zatko’s statements accuse the organization’s safety, indicating that it had “egregious” flaws, something some Twitter members agreed with.
Twitter and Musk are expected to face off in the Court of the Delaware Chancelleryin a judicial proceeding which is already underway, but which will officially begin the next one October 17.
–
