London Daily

Focus on the big picture.
Saturday, Sep 26, 2026

Twitter shareholders try to force Elon Musk's hand, vote in favor of $44B takeover

Twitter shareholders try to force Elon Musk's hand, vote in favor of $44B takeover

Move comes as whistle-blower testifies before Senate, reinforces Musk's argument to nix deal
Twitter lobbed another strategical grenade Tuesday at Elon Musk in the war regarding the billionaire's maneuver to back out of the $44 billion takeover deal of the social media platform.

Shareholders voted in favor of Musk's original agreement in April to buy Twitter for $44 billion at $54.20 per share. The company's stock hovers at nearly 25% below the initial price of about $41 per share.

The vote to hold the Tesla CEO to the agreement came days after Musk's legal team sent a third letter to Twitter to nix the deal based on Twitter's reported severance payment of $7.75 million to former security chief Peiter Zatko, who then became a whistle-blower to the federal government about the platform’s alleged security and privacy susceptibilities.

Musk's lawyers claimed that Zatko's compensation violated a provision of the acquisition contract when Twitter agreed not to provide severance payments to employees outside "the ordinary course of business consistent with past practice."

Twitter fired back calling Musk's attempt to back out of the deal "invalid and wrongful."

The vote came as Zatko testified Tuesday before a US Senate committee where he explained that the company’s alleged cybersecurity failures make it vulnerable to a serious breach.

"When an influential media platform can be compromised by teenagers, thieves, and spies and the company repeatedly creates security problems on their own, this is a big deal for all of us," Zatko told lawmakers.

Musk sent his first letter to terminate the deal in July alleging Twitter violated the agreement by misrepresenting the number of spam and fake accounts on its platform. Twitter followed suit by suing Musk to complete the acquisition, accusing the billionaire of using bots as a ploy to walk away from the takeover.

Twitter and Musk will battle in court Oct. 17 when they are scheduled to go to trial.
Newsletter

Related Articles

0:00
0:00
Close
Royal Navy Diving Squadron Honoured for Global Bomb Disposal Efforts
UK State Pension Set to Approach £13,000 Per Year Under Triple-Lock
Rolls-Royce Wins Multi-Million-Pound Engine Contract with Philippine Airlines
TfL Questions Future of Heathrow Express Amid Proposed £33 Billion Expansion
Ed Miliband Warns Iran Against Hostile Operations on British Soil
S&P Global Manufacturing Index Signals Stabilization Amid Rising Fuel Costs
Prime Minister Andy Burnham Launches National Centre for Information Defence
UK Food and Drink Trade Deficit Surges to £21.1 Billion
OECD Upgrades United Kingdom Economic Growth Forecast to 1.1 Percent
Bank of England Faces Policy Challenges as Energy Prices Push Inflation Projections Higher
IMF Urges UK and Major Economies to Reduce Public Borrowing and Debt
UK Government Concedes Chagos Islands Sovereignty Deal is Dead Following Trump Opposition
Prosecutors Seek More Than 10 Years in Prison for Former DUP Leader Jeffrey Donaldson
UK Provided £66 Million in Emergency Security Funding for Mosques After Southport Disorder
Manston Inquiry Examines Role of Government Decisions in 2022 Overcrowding Crisis
Justice System Capacity Pressures Raise Concerns Over Release of Sex Offenders
UK Food and Drink Trade Deficit Widens to Record £21.1 Billion
UK Releases Climate Security Findings Previously Withheld Under Starmer
TalkTalk Races to Sell Consumer and Broadband Businesses as Administration Threat Looms
NHS Bodies Impose Minimum Two-Year Waits for ADHD and Autism Assessments
Andy Burnham Pledges £210 Million to Revive Boarded-Up High Streets
UK Borrowing Reaches £18.3 Billion in August Ahead of Autumn Budget
Vistry Cuts Profit Outlook as Losses Deepen and Private Home Sales Weaken
Reported Assaults on Great Britain’s Railways Rise Sharply
Far-Right Activist Daniel Thomas Arrested After Channel Dinghy Slashing
Ukrainians in Britain Face Greater Homelessness Risk as Host Payments Are Cut
Scottish Drug Deaths Rise as Synthetic Opioids Spread
UK Diesel Prices Approach Record High as Energy Costs Intensify
UK Food and Drink Trade Deficit Widens to Record £21 Billion
Britain’s Largest Planned AI Supercomputer Delayed by Power Grid Constraints
NHS Boards Impose Minimum Waits of Up to Two Years for ADHD and Autism Assessments
Police Arrest Far-Right Activist After Migrant Dinghy Slashed in English Channel
Synthetic Opioids Drive Renewed Rise in Scotland’s Drug Deaths
Reported Assaults on Britain’s Railways Rise 20% in a Year
Vistry Cuts Profit Forecast as Losses Weigh on UK Housebuilder
TikTok Drops Appeal and Accepts £12.7 Million UK Data Protection Fine
Russell Group Urges UK Government to Drop Proposed International Student Levy
Legal & General Plans to Cut 1,000 Jobs by Mid-2027
UK Health Bill Would Remove Independent Governors From NHS Foundation Trusts
BMA Raises Patient Safety Concerns Over Advanced Practitioners Filling Doctor Rotas
UK’s Largest AI Supercomputer Delayed by Power Supply Constraints
NHS Orders Security Cameras in Neonatal Units Following Thirlwall Inquiry
Post-Brexit Trade Barriers Cost UK Economy Up to £6.5 Billion a Year, Analysis Says
UK Parliament Launches Inquiry Into Bank of England Monetary Policy Independence
Global Bond Selloff and Higher Oil Prices Narrow UK Budget Options
UK Prime Minister Andy Burnham Addresses UN and Holds First Meeting With Donald Trump
Royal Navy Commandos Complete Maritime Operations Training With US Navy SEALs
Vistry Profit Warning Adds to Concerns Over UK Housebuilding Conditions
UK Commits £343 Million to Major Expansion of Community Mental Health Services
Five Eyes Partners Back UK-Led Campaign Against Global Fraud Networks
×