Recently, Elon Musk tried to take over the social media giant Twitter with a $44 million takeover bid. Shareholder approval was required for the completion of the deal and the Twitter (TWTR) shareholders have voted in favour of Musk. The takeover offer values Twitter at $54.20 per share.
The support from shareholders has come two weeks after a filing that revealed the Telsa CEO had called off his acquisition efforts. Musk had initially proposed to acquire Twitter in April, but had backed out the following month, citing concerns about the number of fake accounts (bots) on the platform. After Twitter took to court to oppose this, Musk claimed that the firm has provided false and misleading information.