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The Independent UK
The Independent UK
Technology
Megan Sheets and Reuters

Elon Musk and Twitter hit with lawsuit from shareholder to delay $44bn takeover

Elon Musk Lawsuit Delaware Police
Angela Weiss/AFP via Getty Images

Elon Musk and Twitter Inc have been sued by a Florida pension fund seeking to block the Telsa CEO from quickly completing his planned $44bn takeover of the platform.

In a complaint filed in Delaware Chancery Court on Friday, the Orlando Police Pension Fund said that under Delaware law Mr Musk cannot complete the takeover until at least 2025 unless holders of two-thirds of shares not “owned” by him approved, according to Reuters.

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