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Twitter to hold annual meeting amid Musk uncertainty -Breaking

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© Reuters. FILE PHOTO Elon Musk’s Twitter account is shown on this photograph illustration, taken on April 28th 2022. REUTERS/Dado Ruvic/Illustration

By Sheila Dang

(Reuters) – Twitter Inc On Wednesday, (NYSE:) shareholders will be skeptical as the company faces doubts about whether it will close its acquisition by Elon Musk for the price agreed upon.

Tesla’s chief executive (NASDAQ: Tesla) tweeted May 13, that $44B acquisition had been temporarily suspended while he investigated the number of fake Twitter accounts.

According to Twitter, it stated last week that the company was still committed to the price agreed upon. Twitter stock closed at $35.76 on Tuesday, a 34% reduction from the $54.20 per-share price.

The virtual annual meeting on Wednesday will have a question and answers session. A Twitter spokesperson stated, however that they will not be answering deal-related questions.

Five stockholder proposals are being considered by Twitter investors. All of them have been rejected by management.

According to Donna Hitscherich (a Columbia Business School professor in finance), the meeting will not “particularly relate” to Musk’s acquisition agreement.

It will remain non-binding even if any shareholder approves the proposal, she stated.

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