Elon Musk's $44 billion acquisition of Twitter approved by shareholders, but legal risks still remain

Odaily Planet Daily reports that Twitter shareholders have voted in favor of Elon Musk’s proposal to acquire the platform for $44 billion in a key vote. This voting result indicates that shareholders support this large-scale merger and acquisition deal, which values Twitter at $54.20 per share.

However, Musk and Twitter are engaged in intense legal battles. The entrepreneur has issued a second cancellation letter, attempting to withdraw from the deal entirely. This move suggests that, despite the support from shareholders, the final completion of the transaction still faces many uncertainties. Legal proceedings have become a key variable restricting the progress of the deal.

From the market response, Twitter’s stock price reacted positively to the shareholder voting results. Data shows the stock rose by 1.6% to $42.09, indicating that investors are cautiously optimistic about Musk’s acquisition. The difference between this price and the $54.20 per share acquisition valuation reflects the market’s rational expectation of whether the deal will ultimately go through.

Overall, while this shareholder vote has laid a legal foundation for Musk’s acquisition of Twitter, the deal’s true completion still requires overcoming legal obstacles. How Musk responds to these legal challenges will directly determine the final outcome of this merger and acquisition case. (CoinDesk)