Elon Musk has lost an important ally. Investors blocked ‘s re-election Egon Durban on the Twitter board The rejection of Durban, which had previously supported Musk’s other business initiatives, has exacerbated the climate of uncertainty weighing on the negotiations over the purchase of the social network.
On May 13, Elon Musk announced that he had “paused” the Twitter buying operation, accusing the social network of lying about the number of bots on the site. Egon Durban is co-head of the fund silver more, which in the past had supported a plan – later unsuccessful – to remove Tesla from the US stock exchange. He joined the Twitter board in 2020, but his role has not been confirmed.
“The Twitter board has never shown approval for Elon Musk and the plans he has in mind for Twitter,” Bokeh Capital CIO Kim Forrest told Reuters. “That he was removed from the board is not particularly surprising.”
Nevertheless, it is expected that the Twitter Shareholders Approve with a very large majority the proposal of Elon Musk. That’s buying the social network for $44 billion, with compensation for each individual shareholder well above the current market value of their shares.
Some shareholders have asked Elon Musk to attend the next meeting when they need to comment on the deal. The Executive Board has not yet approved a definitive date for the vote.
Source: Lega Nerd