Elon Musk’s $44 billion buyout deal has been approved by Twitter board, a report

Elon Musk/Twitter

IBNS: Twitter shareholders Tuesday approved Elon Musk’s $44 billion buyout deal, news agency AFP reported.

This comes amid a court case Musk is fighting to scrap the deal.

Elon Musk filed a countersuit along with a legal defence in July last week against Twitter’s claim that he is contractually bound to complete the takeover deal.

In the countersuit, the Tesla chief has accused Twitter of fraud and alleged that the social media platform has misled him about key aspects of its business before he agreed to a $44 billion deal amid a court battle.

Musk argued in the filing to a Delaware court that the number of users who can be shown advertising on the platform is far below the firm’s figures.

“Twitter’s disclosures have slowly unraveled, with Twitter frantically closing the gates on information in a desperate bid to prevent the Musk Parties from uncovering its fraud,” the claim alleged.

In its own filing, Twitter rejected the billionaire’s argument, calling it “as implausible and contrary to fact as it sounds.”

“According to Musk, he — the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers — was hoodwinked by Twitter into signing a $44 billion merger agreement,” Twitter said.