"Twitter Annual Shareholders Meeting Tomorrow... Musk's Acquisition Likely to Be Approved"

[Image source=Reuters Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] At Twitter's shareholders' meeting, it is expected that Elon Musk, CEO of Tesla, will approve the plan to sell the company, according to reports by The Wall Street Journal (WSJ) and others on the 12th (local time).

According to the reports, major shareholders, including fund managers managing about 20% of Twitter's shares, voted in favor of selling the company for $44 billion (approximately 60.7 trillion KRW). The Twitter shareholders' meeting will be held at 1 p.m. Eastern Time on the 13th (2 a.m. Korean time on the 14th).

CEO Musk agreed in April to purchase Twitter at $54.20 per share (approximately 75,000 KRW), but three months later in July, he suddenly declared the deal void, citing reasons such as Twitter's insufficient disclosure of information regarding fake accounts. As a result, both parties are engaged in a legal battle over the sale. The Delaware Court of Chancery will hold a trial related to this matter for five days starting from the 17th of next month.

However, CEO Musk, who holds about 10% of Twitter's shares, reportedly had not voted by the afternoon of the 12th. Twitter's current stock price is $41.41.

Meanwhile, the U.S. Senate Judiciary Committee plans to hold a hearing on the 13th, the day of the shareholders' meeting, by summoning Peter Zatko, former security chief and internal whistleblower at Twitter.

This content was produced with the assistance of AI translation services.