Carl Powell
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.
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