New Delhi
Amid the legal courtroom battle between Twitter and Elon Musk, the former's shareholders on Tuesday approved the $44 billion buyout.
Reportedly, after months of discussion, Twitter shareholders decided to accept Musk's $54.20 per share offer which was made in April before he went back on it. According to Twitter, more than 98.6 per cent of votes were cast in favour of the deal.
While the investors have given their nod, it looks highly unlikely it will be smooth sailing from here onwards. As reported extensively by WION, the Tesla founder is not willing to go ahead with the deal unless his demands about the reality of the bot accounts are explained by Twitter.
The eccentric billionaire continues to claim that Twitter has close to 20 per cent bot accounts, as opposed to the five per cent that the company claims. Musk announced in July that he was suspending the deal agreement, alleging Twitter had concealed information about these accounts.
Consequently, Twitter sued Musk to complete the transaction and has claimed that the issue is unrelated to the deal.
It is pertinent to note that the trial starts next month on October 17. In addition to the bot controversy, Musk is now fixated on the testimony of Twitter whistleblowers who are exposing the microblogging platform and its shadowy security policies. Thereby, granting Musk another reason to tank the deal.
Read more: After bots, what is Elon Musk's new reason to terminate the Twitter deal?
However, the approval clears the path for the consummation of the deal, if the trial, starting next month goes against Musk. In that case, barring another appeal, Musk would have to shell out the said amount to buy Twitter.
(With inputs from agencies)
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