Twitter shareholders approve Elon Musk’s purchase bid amid ongoing legal skirmish

2J5RXNE France. 25th Apr, 2022. ELON MUSK wants to buy Twitter. The social media said it would agree with Musk's proposition. Musk has proposed paying $54.20 for each share of the social media company, an offer that values Twitter at $43 billion. The entrepreneur, who runs Tesla, SpaceX and other companies, already owns more than 9% of Twitter. (Credit Image: © Adrien Fillon/ZUMA Press Wire)

Photo: Alamy

Twitter shareholders on Tuesday voted to approve Tesla and SpaceX CEO Elon Musk’s $44 billion offer to purchase the social media platform, according to a report from Reuters.

In July, Musk announced that he would be terminating his bid to buy Twitter over “false and misleading representations” regarding the number of spam accounts and bots present on the platform, per RSBN.

Recently, the Wall Street Journal reported that Twitter paid nearly $7 million to Peter Zatko, the former head of security at the company, who blew the whistle on Twitter’s alleged failure to protect user data and address known security problems.

Musk’s legal team has further argued that this payout gives him more ammunition to terminate the deal. However, Twitter has called the billionaire’s attempts to sever the agreement “invalid and wrongful,” the outlet also said.

Musk, known for facetiously sharing his thoughts about the environment, politics, and his business projects on Twitter, changed his display name on the social media platform to “Naughtius Maximus” before the shareholders’ vote results were announced. He also posted an emoji of a bucket of popcorn, perhaps alluding to the ongoing public drama between himself and Twitter.

Musk’s ongoing legal skirmish with Twitter is set to culminate in a trial set for October, per Bloomberg.

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