Before billionaire Elon Musk can take over Twitter as he aspires to, the tech company has held its annual general meeting. But the possible takeover is not even mentioned there.
The Twitter takeover by tech billionaire Elon Musk was not an issue at the online service’s annual general meeting on Wednesday. Company boss Parag Agrawal referred to “regulatory reasons” for not being able to comment on the deal.
Musk had agreed with Twitter’s board of directors on a price of $54.20 per share – but shareholder approval is still required to complete the acquisition. Your vote on this is to be scheduled for a later date.
Nevertheless, there was a small scandal at the shareholders’ meeting: the co-head of the financial company Silver Lake, Egon Durban, was not re-elected as a member of the board of directors after a preliminary count of the shareholder votes. For co-founder Jack Dorsey, his time on the supervisory board ended as planned: when he stepped down from the top management in November, it had already been announced that he would leave the board of directors when his mandate at the annual general meeting expired.
Contrary to the wishes of the board of directors, the shareholders voted at the annual general meeting that a report on Twitter’s political donations should be prepared. So far, nothing is known about which candidates, parties or other organizations the company supported, was the reason for the proposal.
How exactly Musk’s takeover plans will continue is unclear. He himself had suspended the deal with the board of directors because he suspected that the proportion of spam and bot accounts was higher than the estimates of less than five percent given in official reports. Twitter, on the other hand, emphasizes that Musk cannot unilaterally put the agreement on hold and is determined to enforce it. Twitter shares traded at $37 on Wednesday, a long way from Musk’s asking price.