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Twitter shareholders say yes to Musk acquisition

Despite the deal hanging in the air pending a trail in October, Twitter’s shareholders have voted yes to the proposed acquisition of the business by Elon Musk.

As Bloomberg reports, a majority of shareholders voted yes to the deal in which Musk offered $54.20 per share to acquire Twitter. A majority here means that 98.6 percent of votes cast were in favour of the deal.

Of course, the deal has been complicated by the worst case of buyer’s remorse we’ve seen of late. While Twitter’s board of directors advised shareholders to approve the deal, Musk has since expressed a desire to back out of the deal.

This turnabout was seemingly brought about by a plague of bots and spam accounts on Twitter. The billionaire is convinced that Twitter’s claim that bots and spam accounts make up less than five percent of its user base is false. He is so convinced in fact, that he believes the revelation entitles him to back out of the deal.

To that end, Twitter has now approached a court to compel Musk to go through with the deal and a trial date is set for next month. While Twitter looked to be in the driving seat since taking Musk to court, recent revelations from Peiter “Mudge” Zatko, the social network’s former head of security, could change that.

The infosec expert revealed that Twitter had ineffective security, a lack of accountability and a massive bot problem. These revelations hit a note with Musk who has since subpoenaed Zatko.

Meanwhile, Twitter has refuted Zatko’s claims with chief executive officer Parag Agrawal stating that it was a, “false narrative that is riddled with inconsistencies and inaccuracies, and presented without important context”.

The trial between Elon Musk and Twitter begins on 17th October barring any delays that are caused in the lead up to that date.

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