Shulou(Shulou.com)11/24 Report--

According to reports in the morning of September 13, Beijing time, a majority of shareholders of Twitter voted to sell the social networking company to the world's richest man, Elon Musk, for $44 billion, according to people familiar with the matter.

The deadline for shareholders to vote on the deal is Tuesday local time, but enough investors have completed the vote by Monday night, so a firm result can be reached, according to people familiar with the matter.

Representatives of Twitter and Musk have yet to comment.

Mr Musk had previously informed Twitter that he would not press ahead with the deal because Twitter misled him about spam accounts and did not inform Mr Musk of the company's payment agreement with an executive.

Musk's offer for Twitter, which was signed in April, is $54.20 a share. Since Twitter's share price is currently around $41, that price looks expensive in the current environment. Because of this, Twitter shareholders are widely expected to support the deal after the stock market falls.

Twitter said earlier on Monday that its payment of fees to a whistleblower did not violate its acquisition agreement with Mr Musk. Before that, the world's richest man hoped to use it as another excuse to cancel the deal.

Lawyer Twitter said Musk's excuse for canceling the deal was "invalid and wrong".

Mr Musk's lawyer said last week that Twitter violated the acquisition agreement without obtaining Mr Musk's consent before paying $7.75 million to whistleblower Peiter Zatko and his lawyers. The agreement limits the time Twitter can make such payments.

Zatek, a former head of security at Twitter, was fired in January. He accused the social network last month of falsely claiming that it had a solid security plan and making misleading statements about defending against hackers and fake accounts.

The whistleblower will appear before the U.S. Senate Judiciary Committee on Tuesday to elaborate on the charges.

"as Musk is now allowed to include Zatko's charges in his testimony in the Delaware case, Wall Street will keep a close eye on tomorrow's hearing," Wedbush Securities analysts said in the research paper.

In addition, the case of Twitter v. Musk is scheduled to open at the Delaware Court of Chancery on October 17.

Mr Musk's lawyer has yet to comment.

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