Twitter Shareholders approved Musk's $44 bn takeover bid.

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.

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The vote came while Musk's legal team is fighting to get out of the arrangement.

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According to The Verge, Twitter acknowledged that a preliminary count showed it has enough votes to accept the acquisition.

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Twitter has filed a lawsuit against Musk for allegedly breaking the terms of the pact.

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The result allows Twitter to proceed with a lawsuit aimed at forcing Musk to abandon the acquisition.

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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.

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"Twitter will strive to conclude the transaction nevertheless, claiming Musk's reservations are only an excuse for pulling out," according to the newspaper.

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Twitter whistleblower Peter Zatko testified before a US Senate committee on the vote matter.

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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.

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