Musk, the world’s richest man, indicated earlier this month that he wants to back away from the deal, prompting Twitter to file a lawsuit to hold him to what it describes as a “seller-friendly” agreement.
DOVER, Del. — Twitter has set Sept. 13 as the date for its shareholders to vote on the company’s pending buyout by Tesla CEO Elon Musk.
“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. Attorneys for Musk claimed that Twitter’s proposed case schedule is “an obvious attempt to squeeze defendants” after a Delaware Chancery Court judge agreed last week to hold an expedited trial in a lawsuit filed by Twitter.
The documents sought by Musk’s attorneys include Twitter board minutes and related materials, advertising sales and metrics, and manuals and policies regarding “Monetizable Daily Active Usage or Users,” or mDAU. That is a metric that Twitter uses to measure the number of people or organizations using its platform.
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Twitter sets September shareholder vote on Elon Musk buyoutTwitter has set September 13 as the date for its shareholders to vote on the company’s pending buyout by Tesla CEO Elon Musk.
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Twitter sets September shareholder vote on Elon Musk buyoutTwitter has set September 13 as the date for its shareholders to vote on the company’s pending buyout by Tesla CEO Elon Musk.
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Twitter sets September shareholder vote on Elon Musk buyoutTwitter has set September 13 as the date for its shareholders to vote on the company’s pending buyout by Tesla CEO Elon Musk
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