Twitter plans to have shareholders vote on the sale to Elon Musk.

Shareholders vote on the sale

Twitter Plans Elon Musk
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Twitter Inc’s senior executives told employees on Wednesday that a shareholder vote on its $44 billion sales to Elon Musk may occur by early August, as the social media company continues to work constructively to close the transaction with the world’s richest person.

Musk’s lawyers warned Twitter on Monday that he might walk away from the acquisition if the company fails to provide the data he seeks on spam and fake accounts. Twitter has stated that it will continue to share data with Musk. According to people familiar with the matter, part of that data is the “firehose,” a collection of all tweets on the platform analysed by various parameters such as user devices or profiles of accounts that publish tweets. 

According to the sources, Twitter sells this data to social media monitoring companies as part of its licensing business but will give it to Musk for free as part of the information exchange. According to the sources, the firehose does not contain proprietary information such as Twitter users’ private information or how often they verify their accounts.

Twitter Chief Executive Parag Agrawal last month tweeted he did not believe a calculation of fake and spam accounts could be performed outside the company, because it would require private information that Twitter cannot share. It was not clear how much confidential information about its user base Twitter will share with Musk. The Washington Post first reported on the sharing of the firehose.

Gadde and other executives replied to a barrage of questions and concerns from employees about the purchase on Wednesday. Among them: is whether people will be able to continue to work from home, as Twitter has promised would be possible.

Gadde said remote work is not protected by the merger agreement, so there’s no guarantee Musk will continue to allow it, the people said.


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