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TWITTER SETS SEPTEMBER SHAREHOLDER VOTE ON ELON MUSK BUYOUT
AppleMagazine
|AppleMagazine #561
Twitter has set Sept. 13 as the date for its shareholders to vote on the company’s pending buyout by Tesla CEO Elon Musk.
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The company said in a regulatory filing on Tuesday that it is recommending shareholders vote for the $44 billion deal to be completed.
The date is ahead of the yet-to-be specified start date of the October trial in the dispute between the billionaire, who is seeking to abandon the deal, and the San Francisco company. Twitter has sued Musk in Delaware after he said wanted to walk away from the deal.
“We are committed to closing the merger on the price and terms agreed upon with Mr. Musk. Your vote at the special meeting is critical to our ability to complete the merger,” Twitter said in a letter to its shareholders.
Attorneys for Musk accused Twitter of slow-walking document production in advance of the trial to decide whether the Tesla CEO should be forced to complete the deal.
Musk’s lawyers also said in a court filing that Twitter Inc. attorneys have refused to consent to a proposed Oct. 17 trial date and are insisting on an Oct. 10 trial start, using the uncertainty over a trial date to delay other scheduling discussions.
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