Tesla CEO, Elon Musk was voted to take over microblogging the social media platforms by Twitter investors.
Roughly 98.6% of the votes cast at the meeting agreed with the proposal to adopt the merger agreement.
Twitter Inc. (NYSE said that its stockholders have agreed to announce a $44 billion agreement for Tesla CEO Elon Musk to develop the social media platform.
According to the announcement, “Based on a preliminary tabulation of the stockholder vote,”
Roughly 98.6% of the votes cast at the special meeting supported the recommendation to the merger agreement.”
Twitter clarified, “The shareholder approval satisfies the final condition precedent to the closing of the merger under the merger agreement (other than those conditions that by their nature are to be satisfied at closing).”
Also read, Commercialization of Twitter; Is Elon Musk on the Right Path?
The social media platform is prepared and ready to finalize the merger with affiliates of Mr. Musk immediately.
Although in April, Musk suggested buying Twitter for approximately $44 billion. Later, he blamed the social media company for a “material breach”.
Musk announced that the social media platform deal is “temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,”
In early July, Musk withdraws his decision to buy Twitter, but a few days later the social media filed a lawsuit in the Delaware Court of Chancery to force Musk to finish the investment.
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