The Tesla chief executive tweeted on May 13 that the $44
billion acquisition was "temporarily on hold" while he sought more
information about the proportion of fake accounts on Twitter.
The company said last week it remained committed to the deal
at the agreed price. However, investors have appeared unconvinced, as Twitter's
shares closed on Tuesday at $35.76, representing a 34 percent discount to the
$54.20 per share deal price.
While the virtual annual meeting will include a
question-and-answer session on Wednesday, a Twitter spokesperson said the
company will not answer deal-related questions.
Twitter investors are set to vote on five stockholder
proposals, all opposed by management, which include asking the company to
produce a report on its impact on civil rights and another on its lobbying
activities.
The meeting itself will not be "particularly
relevant" to the agreement to be acquired by Musk, said Donna Hitscherich,
a professor of finance at Columbia Business School.
Even if shareholders approve any of the proposals, it will
be non-binding, she said. – Reuters