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The shareholders of the most popular micro-blogging platform Twitter approved a $44 billion buyout by Tesla CEO Elon Musk on Tuesday, handing over the deal’s outcome to a court battle in which the billionaire is trying to scrap the purchase, the Reuters reported.
“Twitter’s board of directors have earlier requested shareholders to approve the Musk deal, according to reports,” IANS said. In its latest filing with the Securities and Exchange Commission (SEC), Twitter also denied any breach in paying $7.75 million severance payment to whistleblower Peiter “Mudge” Zatko.
Last week, the Tesla CEO shot off a third notice to Parag Agrawal-led Twitter, aimed at terminating the $44 billion takeover deal. Musk’s legal team cited Twitter’s multi-million dollar severance payment to former security chief Zatko.
According to The Verge, the notice was sent to Twitter’s chief legal officer Vijaya Gadde. The Tesla CEO is also trying to buy more time from the court to kick off the Twitter trial, set for October 17, citing the upcoming testimony by Zatko.
Musk’s legal team has proposed a new timeline that would push the week-long trial to late November. The former Twitter security head has alleged that Twitter misled regulators about its security practices and actual number of bot accounts.
Musk has said that the testimony of Twitter whistleblower justifies his termination of the $44 billion deal to buy the micro-blogging platform.
(with IANS inputs)
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