This could seriously slow down the deal. The Orlando Police Pension Fund has filed a lawsuit over the purchase of Twitter by billionaire Elon Musk. The deal may be delayed until 2025.Discuss
The fund is a shareholder of Twitter. His representatives filed a lawsuit in a Delaware state court. The documents note that under state law, Elon Musk cannot complete the takeover of the company until at least 2025, unless the owners of two-thirds of the shares approve the transaction earlier. that Musk became a “interested shareholder” after acquiring more than 9% of Twitter shares, so the deal is being delayed.
Recall that at the end of April it became known that Tesla CEO Elon Musk agreed to acquire Twitter for $44 billion. He stated that by 2028 the company's annual revenue will reach 26.4 billion dollars, while last year Twitter earned 5 billion.