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The majority of Twitter shareholders support selling to Musk, according to sources

People familiar with the vote count reported on Monday that a majority of Twitter Inc. shareholders had approved the social media company’s $44 billion sale to Elon Musk.

The deadline for the shareholder vote on the merger is on Tuesday, but according to the sources, enough investors had already cast their votes by Monday night for the result to be secure.

Before an official declaration, the sources want to remain anonymous. Requests for comment from Twitter and Musk spokespeople were not immediately fulfilled.

Shareholders were largely anticipated to vote in favour after a stock market decline made Musk’s April deal for $54.20 per share for Twitter appear expensive in the current climate. Currently, the price of a share of Twitter is roughly $41.Musk informed Twitter that he would not proceed with the acquisition, claiming that the company had deceived him about the platform’s spam accounts and that it had not informed him of a pay settlement it had made with one of its senior employees. The two parties are expected to square off in court the following month.