Negotiation Twitter rejects Musk's new arguments to break the purchase agreement
Analysis Is Elon Musk above the law?
Twitter shareholders have voted almost unanimously on Tuesday to approve the agreement reached with the founder and CEO of
Tesla
, Elon Musk, at the beginning of the year for the purchase of the company.
According to a preliminary survey of shareholder voting,
about 98.6% of the votes cast
at Tuesday's special meeting have approved the proposal to adopt the deal, paving the way for the social network to try to legally bind the tycoon to go ahead with the acquisition.
Musk originally agreed to buy Twitter, currently valued at
$
32 billion, for
$
44 billion in April.
However, the Tesla founder withdrew from the deal in July, claiming that Twitter had breached its terms.
Musk had been publicly questioning
's
bot
numbers for weeks , which many analysts saw as an attempt to drive down the tech giant's share price.
shares
plunged more than 6% in post-announcement trading, according to CNN.
Subsequently, through a letter sent in early June by Musk's lawyers to the United States
Securities Market Commission
(
SEC
), the billionaire's legal team considered
's position a "substantial breach" of its obligations under the merger agreement, warning that
Elon Musk
"reserves all resulting rights, including his right not to consummate the transaction and his right to terminate the merger agreement."
Musk's legal team alleged that Twitter had failed to adequately provide the tycoon with information to support
's claims that only 5% of its monetizable daily active users were
spam
accounts .
Twitter
has already sued
Musk
in an attempt to force him to complete the purchase of the company for the agreed price of $44 billion.
"Twitter continues to believe that Mr. Musk's alleged termination of the merger agreement is invalid and unfounded, and that the Musk parties remain bound by the merger agreement and obligated to complete the merger under the terms and conditions." agreed,"
said in a statement.
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