It looks like Elon Musk-Twitter’s story has a surprising twist.
According to Wall Street Journal and Reuters sources, the majority of Twitter shareholders will vote for Musk’s deal to sell the company on Tuesday.
This means that depending on the outcome of the trial between Musk and Twitter, the company will be sold to Musk.
According to Washington Examiner:
Musk, who holds a 10% share, is the largest shareholder and has not voted since Monday afternoon. Musk must vote for the sale according to the agreement. However, if approved by enough investors it will proceed.
The legal teams of Musk and Twitter will meet on Oct. 17-21 to discuss the expedited trial in relation to Musk’s lawsuit. Musk has repeatedly argued that Twitter violated the terms of its agreement by misleading users about how many bots are available on the platform. This also includes its handling of Peiter Zatko, a whistleblower. Both parties have filed numerous subpoenas to obtain information about Twitter’s financial practices and Musk’s finances.
As we reported in August, Musk dropped information regarding the spambot problem. This will make it more difficult for Twitter.
We will have to wait and see what the legal outcome is, but it seems like Musk could prevail.