Twitter Inc has set a September 13 date to hold a meeting with shareholders to discuss the controversial $44 billion acquisition by billionaire and Tesla Inc chief Elon Musk.
According to the filing, the company plans to vote on the compensation that Twitter may pay to executive officers in connection with the acquisition.
In general, later in October Twitter and Musk will face each other in court to resolve the legal dispute over the failure of the $44 billion deal earlier this week.
As it is known that both parties are pointing fingers at each other for the failure.
Musk said Twitter failed to provide the requested information, breaching a mutually agreed upon contract and canceling the months-delayed acquisition.
On the Twitter side, Musk is said to be deliberately looking for an excuse to continue delaying the company and waiting for the company's value to fall to buy at a lower price.
In the meantime, the filing states that the company will slow down the hiring rate.
It indirectly slightly contradicts previous reports, where the company is said to have opted for restructuring over layoffs.
At the time of writing, Twitter shares were trading up 0.23% at $39.34 with a company capitalization of $30.06 billion.
