Twitter sets Sept. 13 for shareholder vote on Elon Musk takeover


Twitter Inc. TWTR, +0.25% announced Tuesday that it has scheduled its special meeting at which shareholders will vote on whether to approve Tesla Inc. TSLA, -3.57% Chief Executive Elon Musk’s $44 billion takeover of the company. The meeting will take place Sept. 13. at 10 a.m. Pacific. Twitter has urged shareholders to approve the deal for a takeover at $54.20 a share. Shares closed Tuesday at $39.34, and an analyst recently opined that Twitter shares could trade in the mid-teens without the support of the deal, given recent pressure on the advertising market illustrated in part by Twitter’s recent downbeat earnings report. Musk, however, has said he has terminated the deal, citing concerns over the accuracy of Twitter’s public disclosures around bot accounts. A Delaware judge sided with Twitter earlier this month and agreed to an expedited trial on the matter, which is expected to take place in October.

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