The company said in a regulatory filing that it is recommending shareholders vote for the $44 billion deal to be completed.
FILE - Elon Musk attends The Metropolitan Museum of Art's Costume Institute benefit gala on May 2, 2022, in New York. Attorneys for Musk are complaining, Tuesday, July 26, 2022, that Twitter is slow-walking document production in advance of an October trial to decide whether the Tesla CEO should be forced to complete a $44 billion acquisition of the social media company. Twitter has set Sept. 13 as the date for its shareholders to vote on the company’s pending buyout by Tesla CEO Elon Musk.
Earlier Tuesday, attorneys for Musk accused Twitter of slow-walking document production in advance of the trial to decide whether the Tesla CEO should be forced to complete the deal. “Given the compressed timeframe, guidance from the court is necessary to break the impasse to allow things to move forward promptly,” attorney Edward Micheletti wrote in asking Chancellor Kathaleen St. Jude McCormick to grant Musk’s proposed case schedule.Musk agreed in April to buy Twitter and take it private, offering $54.20 a share and vowing to loosen the company’s policing of content and to root out fake accounts.
Musk has claimed that Twitter has failed to provide him enough information about the number of fake accounts on its service, but the company has estimated for the past several years that fewer than 5% of mDAU are spam or fake accounts.
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