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Shareholders approve Elon Musk’s offer to buy Twitter

Twitter shareholders today “green-lighted” Elon Musk’s $44 billion (around €43.5 billion) bid to buy the company, the Washington Post reported today.

The avowal comes after the president of Tesla decided not to proceed with the purchase of the social network.

In late August, the businessman sent a new letter to Twitter, invoking accusations from the company’s former head of security, Peiter Zatko, to justify with more arguments the abandonment of the purchase.

“Allegations about certain facts known to Twitter before or on July 8, 2022, but not disclosed to Musk’s representatives before or on that date, have subsequently arisen and constitute additional reasons to terminate the purchase agreement,” Mike Ringler, one of Musk’s lawyers, wrote in a letter to Twitter’s chief legal officer.

Ringler is referring to allegations by Peiter “Mudge” Zatko, Twitter’s former head of security, who pointed to cybersecurity flaws in the platform and accused officials of lying about the means used to combat fake accounts and spam.

Musk also deposited a document with the regulator of the US stock exchange, alerting him to the additional reasons why he abandoned the Twitter acquisition project.

The decision to pull out of the purchase was announced in early July, with Musk accusing the company of not respecting agreements and failing to report the exact number of fake accounts and spams.

The fallout prompted Twitter to sue the multi-millionaire to force him to honor the terms of the agreement.

The trial, which will last five days, begins on October 17 in a specialized Delaware court.

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