Newshub18:Partners agree to sell Twitter ownership to Elon Musk.
Twitter’s shareholders have approved a proposal to sell the company’s ownership to Tesla founder Elon Musk for $44 billion (4,400 crores). The decision was taken in a video conference. This information is known from the BBC report.
Last April, Elon Musk announced the purchase of Twitter for 4 thousand 4 billion dollars. On July 8, he announced that he was withdrawing from the contract, saying that Twitter did not provide detailed information about spam and fake accounts. After that, Twitter filed a lawsuit against the founder of the American electric car manufacturer Tesla.
Investors joined the video conference organized by Twitter’s headquarters in San Francisco, USA on Tuesday, and approved the agreement to sell ownership to Musk at a price of 4 thousand 4 billion dollars. Twitter’s partners are now believed to have given the green signal to press Musk in court after yesterday’s vote. This means that Twitter will now try to force Elon Musk to buy ownership of the company in court.
Twitter is currently valued at $3,000 billion, which is $1,000 billion less than Elon Musk’s offer ($4,400 billion).
Twitter authorities and Elon Musk will face off in Delaware state court next October. During that hearing, the judge will decide whether Elon Musk should buy Twitter or not.
Twitter’s former head of security, Peter Zatko, made an explosive statement to the United States Senate yesterday after the video conference of the company’s investors. In a recent testimony to US lawmakers, Peter Zatko said the company is misleading people about how secure Twitter is. He also said that Twitter is a decade behind in terms of security standards.
Regarding Jatko’s statement, Twitter said his claims are correct. Twitter also noted that Jatco had been fired from the company.
Musk’s lawyers will be allowed to present Jatco’s testimony in court, a judge said last week.
Elon Musk said last month that the number of fake users on microblogging site Twitter was less than 5 percent—until it was proven that he would not move forward with a deal to acquire Twitter for $44 billion. If the Twitter authorities can prove their claim, he will go ahead with the contract process with all the conditions. Tesla’s CEO claims that the number of fake accounts on Twitter is 20 percent or more. But Twitter authorities say that this number is less than 5 percent. So he is asking Twitter for proof