{"id":20685,"date":"2022-09-19T07:12:56","date_gmt":"2022-09-19T07:12:56","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-shareholders-approve-44bn-musk-deal"},"modified":"2022-09-19T08:13:04","modified_gmt":"2022-09-19T08:13:04","slug":"twitter-shareholders-approve-44bn-musk-deal","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/twitter-shareholders-approve-44bn-musk-deal","title":{"rendered":"Twitter shareholders approve $44bn Musk deal"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>Twitter\u2019s shareholders have voted to approve a deal with Elon Musk to buy the company for $44bn (\u00a338bn). The decision was made in a short conference call with investors from the company\u2019s San Francisco headquarters.<\/p>\n

It means Twitter will now try to force Elon Musk to buy the company in the courts. The meeting followed explosive testimony from Twitter\u2019s former head of security Peiter Zatko in front of the US Senate.<\/p>\n

In April, Twitter agreed to sell the company to the world\u2019s richest person, Elon Musk. However, the deal soured after Mr Musk alleged he was misled by Twitter about the number of spam and bot accounts on the platform.<\/p>\n

He said he no longer wished to purchase the company in May, but Twitter argues that Mr Musk cannot back out of the deal. The social media platform says that fewer than 5% of its monetizable daily active users (those who are able to look at adverts) are bots.<\/p>\n

Mr Musk argues it could be many times higher. Twitter is currently valued at $32bn, considerably below the $44bn offer from Mr Musk. Today\u2019s vote could have spelled the end of Twitter\u2019s legal pursuit, but shareholders have now given the company the green light to pursue Mr Musk in court.<\/p>\n

The two are set to meet in front of a Delaware state court in October. During the hearing a judge will decide whether or not Mr Musk has to buy the company.<\/p>\n

Just before the shareholder decision, Twitter whistle-blower Pieter Zatko was in Washington testifying before the Senate Judiciary Committee about alleged security flaws.<\/p>\n

He told US lawmakers the firm was \u201cmisleading the public\u201d about how secure the platform is. The firm\u2019s former head of security went on to say that Twitter was \u201ca decade behind\u201d security standards.<\/p>\n

Twitter says Mr Zatko was fired from his job, and that the claims are inaccurate. Mr Zatko has previously supported Elon Musk\u2019s claim that the platform has more spam and fake accounts than it has admitted \u2013 though he didn\u2019t elaborate on this on Tuesday.<\/p>\n

Last week, a judge said that Mr Musk\u2019s lawyers would be allowed to use the Twitter whistle-blower\u2019s testimony in court. It largely focussed on national security issues \u2013 and is not officially connected with Mr Musk\u2019s attempt to pull out of the deal to buy Twitter.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. Twitter\u2019s shareholders have voted to approve a deal with Elon Musk to buy the company for $44bn (\u00a338bn). The decision was made in a short conference call with investors from the company\u2019s San Francisco headquarters. It means Twitter will now try to force Elon Musk to buy the company in the courts. […]<\/p>\n","protected":false},"author":84,"featured_media":20684,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,9,16],"tags":[233,245,241,2008],"class_list":["post-20685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-miscellaneous","category-twitter","tag-africa-press","tag-africa-press-mauritius","tag-mauritius","tag-twitter"],"yoast_head":"\nTwitter shareholders approve $44bn Musk deal - Mauritius<\/title>\n<meta name=\"description\" content=\"Twitter\u2019s shareholders have voted to approve a deal with Elon Musk to buy the company for $44bn (\u00a338bn). 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