Twitter's regularly scheduled shareholder meeting Wednesday didn't include a vote on Tesla billionaire Elon Musk's $44 billion bid for the social platform....
Twitter’s regularly scheduled shareholder meeting Wednesday didn’t include a vote on Tesla billionaire Elon Musk’s $44 billion bid for the social platform. That vote will take place at a yet-undetermined date in the future.
CEO Parag Agrawal said at the outset that executives won’t be answering any questions surrounding the proposal. Even a question from a stockholder asking what will happen to his shares if someone buys Twitter and takes it private was shot down. One proposal, by the New York State Common Retirement Fund, called for a report on Twitter’s policies and procedures around political contributions using corporate funds. It passed in a preliminary vote.
The sharp turnaround by the world’s richest man makes little sense except as a tactic to scuttle or renegotiate a deal that’s becoming increasingly costly for him, experts said last week. The fact that the whole thing is playing out publicly — on Twitter, no less — only adds to the chaos that’s been a constant in Musk’s bid, even before he made it.
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