Twitter urges shareholders to vote on deal to sell company to Elon Musk

Twitter has called for its shareholders to vote for the next September 13. approve the deal for the sale of the company They initially agreed with Tesla’s CEO, Elon Musk, for a value. €43.34 billion ($44,000 million).

This was announced by the company in a statement shared by the United States National Securities Market Commission, detailing that social network shareholders must vote. accept the merger planAlthough the billionaire later refused to withdraw from the deal, CNN reported.

“You will be asked to evaluate and vote on a proposal for the adoption of the Agreement and Merger Plan dated April 25, 2022 (…) It may also pay in connection with the merger to the appointed senior executives of Twitter or the Company,” the statement said.

If the merger is finally complete, Twitter announced will pay its shareholders 53 euros ($54) for every share they ownA premium of approximately 38 percent to Twitter’s closing share price on April 1, 2022, the last full trading day before Musk announced his approximately 9 percent stake in the company.

Musk reported on Twitter in early July that when he asked for information about the company, he did not receive a response from the company, and that the social network had abandoned its purchase agreement. number of fake accounts found on the platformas well as the way the company monitors and suspends them.

A little earlier, in mid-May, the businessman decided temporarily suspend the purchase Twitter settled for around 43,620 million euros ($44,000 million) at the end of last April, with details expected to support the company’s calculation that false accounts represent less than five percent of users.

Later, in a letter sent by Musk’s lawyers to the United States Securities Market Commission (SEC) in early June, the billionaire’s legal team considered Twitter’s position a “major breach” of its obligations under the merger deal, so Elon Musk they warned “reserves all rights arising fromincluding your right not to complete the transaction and your right to terminate the merger agreement.”

The lawsuit for Musk’s decision to buy Twitter is due next October, after Delaware Equality Court judge Jude McCormick settled with the social network, alleging that the decision should be made before the 24th of that month. This speeds up the judicial process.

Source: Informacion


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