Twitter will face skeptical shareholders this Wednesday (25) during its annual meeting, as doubts remain over the conclusion of a deal to sell the company to billionaire Elon Musk at the agreed price.
Musk tweeted on May 13 that the $44 billion deal to acquire the social network was “temporarily on hold” as he awaited more information on the proportion of fake Twitter accounts.
The company said last week that it remains committed to the deal at the agreed price.
However, investors didn’t seem convinced, as Twitter shares closed last Tuesday at $35.76 a share, representing a 34% discount from Musk’s proposed price of $54.20 a share. .
The virtual annual meeting on Wednesday will include a question-and-answer session, but a Twitter spokesperson said the company will not answer questions related to the deal.
Twitter investors are expected to vote on five shareholder proposals, which include asking the company to produce a report on its civil rights impact and another on its lobbying activities.
Management opposes all proposals.
Source: CNN Brasil
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