Twitter shareholders approve the $44B merger Musk is trying to get out of
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Twitter shareholders voted to approve Elon Musk's purchase of the company, weeks ahead of a trial over Musk's attempt to exit the merger deal. Though a specific vote tally wasn't available today, multiple news reports said investors backed the Twitter board's recommendation to approve the $44 billion deal that Musk agreed to in April before changing his mind.
"A majority of Twitter shareholders voted in favor of accepting Musk's $54.20-a-share offer to acquire the social-networking company, according to a preliminary vote count read on Tuesday," Bloomberg wrote.
Today's shareholder vote was the last remaining approval Twitter needed for the Musk deal, but the bigger question is what will happen at the upcoming trial at Delaware Court of Chancery. Twitter sued Musk to force him to complete the deal, and a trial is scheduled to begin on October 17.