Shareholders wish to drive him to pay $44 billion – Muricas News

The shareholders of the American large Twitter virtually unanimously authorized the contract for the acquisition of the corporate that they concluded with Elon Musk earlier this yr.

Based mostly on a preliminary tabulation of shareholder votes, about 98.6 % of them authorized at a rare assembly on Tuesday a proposal to undertake a contract to legally drive the proprietor of Tesla and House X to start buying the corporate, after he unilaterally terminated the contract in July.

In April, Musk agreed to purchase Twitter for $44 billion, whereas its present worth is estimated at $32 billion. However Musk pulled out of the deal in July, claiming Twitter had failed to satisfy his calls for.

Musk’s authorized crew argued that Twitter didn't present Musk with proof to assist their declare that spam accounts make up solely 5 % of their each day energetic customers.

Twitter has already sued Musk in an try to drive him to finish the acquisition of the corporate for the agreed worth of $44 billion.

“At Twitter, we nonetheless consider that the alleged termination of the contract by Mr. Musk is invalid and unfounded, and that Musk remains to be certain by the contract beneath which he's obligated to finish the merger in keeping with the agreed phrases,” ​​Twitter stated.