A legal stand-off between Donald Trump and a former business partner is coming to a head, with a vote set to determine whether or not the former US president can unlock a potential $3.5bn windfall by taking the company behind his Truth Social network public.
A shareholder vote to approve a deal between a special purpose acquisition company called Digital World Acquisition Corporation and Trump Media & Technology Group is planned for Friday. But Patrick Orlando, whose Arc Global Investments is the largest investor in DWAC, has so far held out on casting his vote.
Orlando is the former chief executive of the blank-cheque company and sits on its board. But he has threatened to withhold his support for the transaction.
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