Twitter Shareholders Formally Accept Musk's $44 Billion Offer He's Desperately Trying To Get Out Of

Topline Twitter shareholders formally voted to accept Elon Musk’s $44 billion offer to take the company private, several outlets reported Tuesday afternoon, a largely expected move that adds to the bizarre, dramatic public showdown between the company and Musk as the world’s wealthiest man exhibits buyer’s remorse. Elon Musk, pictured here in Texas last month, faces another roadblock in his bid to abandon his … [+] Twitter purchase.Getty Images Key Facts Twitter announced the vote’s passing in a five-minute investor call, according to CNBC. The vote nearly passed unanimously, as the company said a preliminary tally revealed 98.6% support. Reuters and the Wall Street Journal reported Monday night that Twitter received enough votes to pass the measure. Twitter shares rose .6% to $41.72 in Tuesday trading in an otherwise dismal day for markets. Key Background Twitter announced April 25 it agreed to terms with Musk, 21 days after Musk disclosed he became the company’s largest shareholder, potentially setting the stage for a hostile takeover. It was an odd marriage, considering Musk was a harsh critic of the platform’s policies, and the spark between the two quickly flamed out, as Musk filed paperwork July 8 looking to back out of the…
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