FX.co ★ Twitter shareholders approve Musk’s $44 billion takeover deal

Elon Musk’s attempt to terminate his Twitter acquisition is likely to fail. Twitter shareholders approved the billionaire's $44 billion takeover deal. The news came as no surprise as The Wall Street Journal reported such a possibility earlier, citing its own sources. According to the newspaper, the number of shareholders who approve Musk’s deal to buy Twitter is more significant than those who do not approve it.

Notably, in early summer 2022 Musk announced that he refused to buy the company for $44 billion. He accused Twitter of “resisting and thwarting” his right to obtain information about fake accounts. Twitter officials announced that they would sue Mr. Musk to uphold the deal. The Tesla CEO found another reason to terminate his buyout deal. The company paid compensation of $7.75 million to its former security chief Peiter Zatko. Musk’s legal representatives stated that Twitter had no right to pay such sums of money without the entrepreneur's consent. Therefore, it violated the terms.