Twitter to hold annual meeting amid Musk uncertainty – Times of India


NEW DELHI: Twitter Inc will face skeptical shareholders on Wednesday throughout its annual assembly, as doubt stays over whether or not the social media firm will full its deal to be acquired by billionaire Elon Musk on the agreed-upon value.
The Tesla chief government tweeted on Could 13 that the $44 billion acquisition was “briefly on maintain” whereas he sought extra details about the proportion of pretend accounts on Twitter.
The corporate mentioned final week it remained dedicated to the deal on the agreed value. Nonetheless, traders have appeared unconvinced, as Twitter’s shares closed on Tuesday at $35.76, representing a 34% low cost to the $54.20 per share deal value.
Whereas the digital annual assembly will embrace a query and reply session on Wednesday, a Twitter spokesperson mentioned the corporate won’t reply deal-related questions.
Twitter traders are set to vote on 5 stockholder proposals, all opposed by administration, which embrace asking the corporate to supply a report on its impression on civil rights and one other on its lobbying actions.
The assembly itself won’t be “significantly related” to the settlement to be acquired by Musk, mentioned Donna Hitscherich, a professor of finance at Columbia Enterprise Faculty.
Even when shareholders approve any of the proposals, it is going to be non-binding, she mentioned.


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