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Twitter (NYSE:TWTR) says that its $44B deal to be acquired by Elon Musk passed shareholder approval overwhelmingly, with about 98.6% of votes cast in its favor.
That satisfies the final condition precedent to closing the deal, the company says (notwithstanding the legal case playing out in Delaware as Musk tries to exit the commitment).
“Twitter stands ready and willing to complete the merger with affiliates of Mr. Musk immediately, and in any event, no later than on September 15, 2022, the second business day following the satisfaction of all conditions precedent, which is the timeline required by the merger agreement,” the company says.
Musk of course has delivered multiple notices purporting to terminate the merger deal, and Twitter believes those are “invalid and without merit, and that the Musk parties continue to be bound by the merger agreement and obligated to complete the merger on the agreed terms and conditions.”
It’s sued in Delaware Court of Chancery to complete the deal and “remains committed to doing so on the price and terms agreed upon with Mr. Musk.”
The fact that the merger passed muster was announced earlier at the company’s special shareholder meeting. Also earlier, the Senate Judiciary Committee heard testimony on data security from Twitter whistleblower Peiter “Mudge” Zatko, though little of that concerned spam/bots or the deal.
