The majority of Twitter shareholders voted to accept Elon Musk’s takeover of the company, Reuters reported.
Anonymous sources claim that, despite Tuesday being the cut-off to vote, the deal already has enough support from shareholders to go thorough.
Despite their initial resistance, experts say shareholders have warmed to the idea as a market downturn has made the deal much more attractive. Mr. Musk’s original $44 billion deal with Twitter included purchasing shares at $54.20 a share, but Twitter prices now hover around $41 per share.
However, the deal is on shaky ground as Mr. Musk backed out of the proposed acquisition in July, citing an overabundance of bots on the platform. Twitter promptly sued him to force the deal to continue as written.
Today, Twitter whistleblower and former security chief Peiter Zatko testified before Congress, outlining security concerns he says the company ignored and lied to shareholders about. His testimony is expected to be a central part of Mr. Musk’s legal strategy for the upcoming trial.
The trial to determine the future ownership of Twitter will begin Oct. 17.