Why the Tesla/Twitter merger makes sense

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Twitter shareholders on Wednesday approved a deal that will see the social media company acquired by electric vehicle maker Tesla.

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The all-stock deal, valued at $44 billion when it was announced in October, still needs regulatory approval. 

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But at a special shareholder meeting Wednesday, investors overwhelmingly backed the merger, with more than 99% of votes cast in favor.

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Musk, who is also Tesla’s CEO, has said he sees the merger as a way to accelerate his vision of creating a sustainable energy future. 

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But he has also said that the deal is far from certain and that he may walk away from it if the conditions are not right.

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The acquisition still needs to be cleared by antitrust regulators in the U.S. and Europe. 

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And Tesla faces a number of challenges, including ramping up production of its electric vehicles and coping with financial pressure as it tries to become profitable.

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But Musk has said he believes the merger makes sense and that the two companies’ products are complementary. 

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He has also said he would like to keep Twitter CEO Jack Dorsey on as an executive at Tesla.

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The acquisition is part of Musk’s larger vision for Tesla, which he has said is not just about making electric cars but about accelerating the world’s transition to sustainable energy.

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Image Credit: Google 

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