TWITTER SHAREHOLDERS VOTE IN FAVOR OF ELON MUSK’S $44 BILLION TAKEOVER DEAL

Business Sep 13, 2022 0 208 Add to Reading List

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Elon Musk may be fighting tooth-and-nail to get out of his deal to buy Twitter, but the social media company’s shareholders plan to hold him to it.

Twitter (TWTR) shareholders on Tuesday voted in favor of Musk’s $44 billion takeover deal, a value of $54.20 per share. The company’s stock opened Tuesday at just under $41 per share, nearly 25% below the deal price.

The vote came days after Musk’s third letter to Twitter seeking to terminate their deal, with this one pegged to a purported $7.75 million severance payment the company made to its former head of security, Peiter Zatko, who later blew the whistle about its alleged security and privacy vulnerabilities.