Twitter Shareholders Approve Musk Buyout Offer: Report

Twitter (TWTR) shareholders have voted in favor of Elon Musk’s $44 billion takeover bid for the social networking giant, according to Bloomberg. Shareholder approval was required for the completion of the deal.

The vote comes two weeks after a filing that showed Telsa CEO Musk had sent a second letter calling off his acquisition efforts. Musk initially offered to acquire Twitter in April, backed out the following month citing concerns about the number of fake accounts on the platform, and then sent his first letter in July that claimed Twitter provided false and misleading information.

The takeover offer values Twitter at $54.20 per share. Twitter shares are currently up 1.6% to $42.09.