Twitter shareholders back Musk’s £38bn buyout offer
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Twitter shareholders back Musk’s £38bn offer – as entrepreneur tries to squeeze out of deal
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Twitter shareholders have approved the £38bn acquisition of Elon Musk, despite the entrepreneur trying to squeeze out of the deal.
Investors in the social media giant supported Musk’s offer in a vote yesterday.
This will be a blow to the Tesla boss, who originally made an offer to Twitter in April but has since tried to drop it, claiming bosses misled him about the number of “bots” and spam accounts on the site.
Withdrawal: Investors in social media giant Twitter backed Tesla Tycoon Elon Musk’s £38bn offer in a vote yesterday
Twitter has denied Musk’s claims and has sued him in an effort to push the deal through. Musk is filing a counter-indictment and a trial is scheduled for October 17.
Meanwhile, Twitter whistleblower Peiter Zatko, the former head of security, gave evidence to US lawmakers yesterday, claiming the company is “misleading the public” about how secure it is.
In his testimony before the Senate Judiciary Committee, Zatko portrayed Twitter as a company that prioritizes revenue above all else.