Twitter Shareholders endorse $44bn Musk Deal

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Twitter’s shareholders have approved a deal with Elon Musk to buy the company for $44bn (£38bn).

The decision was made in a short conference call with investors from the company’s San Francisco headquarters.

In April, Twitter agreed to sell the company to the world’s richest person, Elon Musk.

However, the deal was put on hold after Musk alleged he was misled by Twitter about the number of spam and bot accounts on the platform.

He said he no longer wished to purchase the company in May, but Twitter argues that Mr Musk cannot back out of the deal.

The social media platform says that fewer than 5% of its monetizable daily active users (those who can look at adverts) are bots. Mr Musk argues it could be many times higher.

Twitter is currently valued at $32bn, considerably below the $44bn offer from Musk.

This decision made by shareholders has given the company the green light to pursue Musk in court.

The two are set to meet in front of a Delaware state court in October. During the hearing, a judge will decide whether or not Musk has to buy the company.