Amid Musk’s uncertainties, Twitter will host an annual meeting

Amid Musk's uncertainties, Twitter will host an annual meeting

Twitter Inc will face cautious shareholders at its annual meeting on Wednesday, as the social media company’s deal to be acquired by billionaire Elon Musk at the agreed-upon price remains in doubt.

Amid Musk’s uncertainties, Twitter will host an annual meeting

Last week, the business stated that it was still committed to the deal at the agreed-upon price. Investors, on the other hand, appear dubious, as Twitter’s stock closed at $35.76 on Tuesday, a 34% discount to the $54.20 per share acquisition price.

On May 13, Tesla’s CEO tweeted that the $44 billion deal was “temporarily on hold” as he sought further information concerning the number of bogus Twitter accounts.

While the virtual annual meeting will include a question and answer session on Wednesday, a Twitter spokesperson said the company will not answer deal-related questions.

The meeting itself will not be “particularly relevant” to the agreement to be acquired by Musk, said Donna Hitscherich, a professor of finance at Columbia Business School.

Twitter investors are set to vote on five stockholder proposals, all opposed by management, which include asking the company to produce a report on its impact on civil rights and another on its lobbying activities.

Check the latest news about tech news section for best information.

The best source of news -
Compare items
  • Total (0)