Elon Musk Required By Twitter Shareholders To Acquire Social Media Platform

Elon Musk Buys Twitter For $44 Billion
Elon Musk x Twitter

South African billionaire, Elon Musk has been voted by Twitter shareholders to become the new owner of the microblogging site.

The shareholders were asked to vote whether they were in favor of Twitter’s sale to Musk or not. A majority of them voted for being in favor of the transaction.

The Twitter and Musk rivalry began in April when he offered to buy Twitter for about $44 billion.

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Since then, Elon has tried to delay the purchase by claiming that the social media app has too many bots, but Twitter defended itself by stating that Musk’s accusations were false.

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Since no conclusion seemed possible, the Delaware Court of Chancery announced a trial to be held in October 2022 for both parties.

Musk, on the other hand, wanted to delay the court hearing till February 2023, whereas Twitter wished to hold one as soon as possible.

According to Reuters, Twitter’s shareholders had a deadline of voting till Tuesday, however, just by Monday, they had enough votes in favor of the sale to Musk.

Now Twitter can continue with the trial and try to get the billionaire to complete the deal. Right now, there has been no response by Musk and his legal team regarding the new proceedings.

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