Twitter shareholders approve the $44 billion sale to Elon Musk

Source: National Public Radio [US state media]

“Almost all of Twitter’s shareholders have voted to approve the social media giant’s deal with Tesla CEO Elon Musk, who had agreed to buy it for $44 billion but has since tried to back out. About 98.6% of stockholders approved the buyout, priced at $54.20 per share. … Musk first agreed to buy Twitter in April for $44 billion. But a lawyer for Musk has sent multiple letters to the Securities Exchange Commission, with the most recent one dated last Friday. The lawyer sent termination notices in July and August, and wrote that the most recent letter is ‘not legally necessary’ but that he was sending it ‘in the event that the July 8 Termination Notice or, alternatively, the August 29 Termination Notice is determined to be invalid for any reason.’ Twitter sued Musk in July over the crumbling deal.” (09/15/22)