SAN FRANCISCO: Twitter shareholders have approved Elon Musk’s acquisition of the social networking site. The deal came after Tesla CEO Elon Musk announced a few months ago that he was buying the social networking site Twitter, and talks between Twitter’s management team and Musk confirmed the deal. However, Elon Musk announced in July that his deal with Twitter was temporarily on hold. The reason for this was that Musk walked out of the sales deal, saying that there were more fake accounts than Twitter was saying and that Twitter was an unprofitable company due to unnecessary expenses.
As a result, Twitter’s stock has fallen by 7 percent in the stock market. At the same time, Twitter said that Musk could not arbitrarily cancel the contract and announced that their company partners will act according to the decision. The matter has gone to court. Meanwhile, Twitter’s shareholders have approved a deal to buy Twitter from Elon Musk. The decision was taken at a meeting at Twitter’s corporate headquarters in San Francisco. Elon Musk’s decision was backed by a poll. However, as the case is currently in the court, it seems that the matter can be resolved through the court.