MUSK'S $44 BN TAKEOVER BID IS APPROVED BY TWITTER SHAREHOLDERS
Twitter shareholders approved Tesla CEO Elon Musk's $44 billion acquisition proposal on Tuesday.
The vote came while Musk's legal team is fighting to get out of the arrangement.
According to The Verge, Twitter acknowledged that a preliminary count showed it has enough votes to accept the acquisition.
Twitter has filed a lawsuit against Musk for allegedly breaking the terms of the pact.
The result allows Twitter to proceed with a lawsuit aimed at forcing Musk to abandon the acquisition.
The court battle is set to begin in mid-October. Musk and Twitter will now go to a trial in the Delaware Court of Chancery in October.
"Twitter will strive to conclude the transaction nevertheless, claiming Musk's reservations are only an excuse for pulling out," according to the newspaper.
Twitter whistleblower Peter Zatko testified before a US Senate committee on the vote matter.
The Tesla CEO is also attempting to purchase extra time from the court in order to begin the Twitter trial on October 17, citing Zatko's evidence.