Majority of Twitter shareholders vote in favour of sale to Musk: Reports

Reports suggest that a majority of Twitter Inc's shareholders have voted in favour of the social media company's $44 billion sale to Elon Musk. Even though the deadline for the vote is Tuesday, Monday's tally has pretty much sealed the deal. An official announcement is expected in the coming days. Twitter and Musk haven't said anything about the reports yet.

Shareholders were widely expected to vote in favour after a stock market downturn made Musk's $54.20-per-share deal for Twitter, which was signed in April, look pricey in the current environment. Twitter shares are now hovering around $41.

Musk has been coming up with reasons to not go through with the deal. He has arguedthat he was misled over the spam accounts on the platform and was not notified of a pay settlement the company reached with one of its top executives.

In a letter sent to Twitter on Friday, Musk's lawyers said Twitter's failure to seek his consent before paying $7.75 million to Peiter Zatko and his lawyers violated the merger agreement. They say that the agreement restricted when Twitter could make such payments.

However, Twitter said payments made to the whistleblower did not breach any terms of its sale to Musk and that Musk's reasons for wanting to back out of the deal were "invalid and wrongful".

Zatko was fired in January as the company's security head. He accused the firm last month of falsely claiming it had a solid security plan and making misleading statements about its defenses against hackers and spam accounts. He is set to meet the US Senate Judiciary committee on Tuesday to discuss the allegations.

Meanwhile, the Twitter vs Musk trial is scheduled to start on October 17 in Delaware Chancery Court.

(With inputs from agencies)