The company's shareholders voted to approve the buyout on Tuesday, which amounts to $54.20 per share. The stock was trading for just over $42 a share on Tuesday.
Musk is attempting to terminate the deal, claiming the social media platform undercounted its fake and spam accounts.The deal will likely be decided in court. A trial is scheduled for October.
Musk reportedly subpoenaed a Twitter whistleblower who testified before Congress on Tuesday. Cyber security expert Peiter Zatko told lawmakers that Twitter leadership is"misleading the public, lawmakers, regulators and even its own board of directors" about how it operates.
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