Looks like there’s a surprising twist in the Elon Musk-Twitter saga.
A majority of Twitter shareholders are reportedly set to vote in favor of the deal to sell the company to Musk on Tuesday, according to reports via sources of Reuters and the Wall Street Journal.
That means, depending on what happens in the trial between Musk and Twitter, the company will be sold to Musk.
Musk, the largest shareholder, with a 10% stake, has not voted one way or the other since Monday afternoon. While the terms of the deal require Musk to vote in favor of the sale, it will go through regardless if approved by a large enough group of investors.
Twitter’s and Musk’s legal teams will meet from Oct. 17-21 for an expedited trial over Twitter’s lawsuit about Musk’s termination of the deal. Musk has regularly argued that Twitter breached its agreement with him through deceptive practices about the number of bots on the platform, as well as its handling of whistleblower Peiter Zatko. The two parties have filed multiple subpoenas seeking information on Twitter’s practices and Musk’s finances.
In August, as we reported, Musk dropped some information about the spam bot problem, so that’s going to make it tougher on Twitter.
We’ll have to see how the legal case comes out, but it looks like Musk might prevail yet.