Even though Elon Musk pulled his offer to buy the company, Twitter still plans to vote on the deal in September.
Elon Musk sent Twitter a letter earlier this month saying that he was pulling out of the deal to buy the site because Twitter hasn't told him how bots are counted on the site. This is important because ads are paid for by real accounts, not bot accounts. Twitter's problem is that it says that less than 5 percent of its accounts are bots.
Now, after Musk already pulled out of the deal, Twitter says it will hold a vote on whether Musk should buy the company.
Twitter's shareholders will vote on whether Tesla CEO Elon Musk should buy out the company on September 13.
In a filing with the government on Tuesday, the company said that it wants shareholders to vote for the $44 billion deal to go through.
The date is before the October trial between the billionaire, who wants out of the deal, and the San Francisco company. The trial's start date hasn't been set yet. Twitter has filed a lawsuit against Musk in Delaware after he said he wanted out of 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.
Earlier on Tuesday, lawyers for Musk said that Twitter was taking too long to hand over documents before the trial to decide if the Tesla CEO should be forced to finish the deal.
Yesterday, the shareholder voter was made public.
NEW: Twitter to hold shareholder vote on Elon Musk takeover deal on Sept. 13 – CNBC
— Breaking911 (@Breaking911) July 26, 2022
Twitter is doing everything it can to get the deal done because it thinks this will keep the SEC from going after the company for making false financial records. This is getting close to crazy.
The preceding is a summary of an article that originally appeared on GatewayPundit.