Twitter- Shareholders to vote on Sept. 13

Twitter- Shareholders to vote on Sept. 13

San Francisco, 7/29/2022

Twitter has scheduled a shareholder meeting for Sept. 13 to vote on its $44 billion acquisition by Elon Musk, according to a regulatory filing. Twitter is recommending shareholders vote in favor of the acquisition.

Shareholders can watch the meeting live via an „interactive“ webcast and then vote, according to the SEC filing. At issue in the vote is the compensation Twitter will pay to some senior executives as a result of the Musk sale.

Separately, Twitter indicated in the filing that it significantly reduced hiring in the second quarter and is being more selective in new hires to reduce costs.

The meeting comes ahead of a trial date set for October in the dispute between Twitter and Musk, who is trying to kill the deal over concerns about spam/fake accounts and other issues.

Twitter recently sued Musk to close the deal at the price and terms the parties agreed to earlier this year.