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Twitter shareholders approve Musk deal

·1-min read

Shareholders in US social media giant Twitter have voted almost unanimously to approve a deal struck with Elon Musk earlier in the year to purchase the company.

Based on a preliminary tabulation of the stockholder vote, some 98.6 per cent of the votes cast at the Tuesday special meeting approved the proposal to adopt the deal.

This paves the way for Twitter to attempt to legally compel the Space X and Tesla head to go through with his acquisition of the company after he unilaterally terminated the deal in July.

Musk originally agreed to buy Twitter, currently valued at $US32 billion ($A48 billion), for $US44-billion ($A65 billion) in April. However, he pulled out of the agreement in July claiming Twitter had failed to comply with its terms.

Musk's legal team claimed Twitter had not adequately provided Musk with information backing up Twitter's claims that only five per cent of its monetisable daily active users were spam accounts.

Twitter has already sued Musk in an attempt to force him to complete the purchase of the company for the agreed $US44-billion ($A65 billion) price tag.

"Twitter continues to believe that Mr. Musk's purported termination of the merger agreement is invalid and without merit, and that the Musk parties continue to be bound by the merger agreement and obligated to complete the merger on the agreed terms and conditions," Twitter said in a statement.