Despite a heated legal battle and the world’s richest man backing out of a deal, Twitter shareholders are insisting that Elon Musk follow through on his promise to buy the tech company for $44 billion.
The company’s representative held a voting procedure this week, in which the absolute majority of Twitter shareholders (98.6%) supported the initiative to sell the company to Elon Musk.
Notably, Twitter’s market capitalization currently stands at $32 billion, which is $12 billion less than the price Musk offered at the beginning of the year. If the deal is successful, Twitter shareholders will receive a profit of almost 37%.
It should be noted that Elon Musk himself no longer wants to buy a social network. According to him, the data presented by Twitter about the number of non-authentic (bots, trolls) users is not true, which is why he refuses the deal.
In this case, the decisive factor is the US court, which can satisfy Twitter’s request and order Elon Musk to complete the deal, i.e. purchase the company for $44 billion, due to the violation of the terms of the agreement and the losses caused to investors.