Twitter Plans To Conduct Shareholders' Vote By August On Sale To Elon Musk

Twitter in a statement said that the company continues to work constructively to complete the $44-billion deal with the world's richest person

Vijaya Gadde, lawyer of Twitter, said an employee meeting that the company anticipates it could hold shareholders' vote on the Elon Musk deal in late July or early August. ( Image Source :Getty )

Micro-blogging platform Twitter expects shareholders’ vote on its $44-billion sale to Elon Musk could come by early August, a report by Reuters said.

The social media company continues to work constructively to complete the deal with the world's richest person, Twitter has said.

On Monday, Elon Musk’s lawyers warned Twitter that he might terminate the acquisition if the company fails to provide the data he seeks on spam and fake accounts. In its reply, Twitter has said it is continuing to share information with Musk.

Vijaya Gadde, lawyer of Twitter, said an employee meeting that the company anticipates it could hold shareholders' vote on the Musk deal in late July or early August. During the internal meeting, the company's top executives said Twitter was working to improve its defences against fake accounts and accounts that spread cryptocurrency spam.

Part of that data is the 'firehose', a set comprising all tweets on the platform analysed by different parameters, such as devices of users or profiles of accounts that publish tweets, people familiar with the matter told the news agency.

Twitter sells this data to social media monitoring firms as part of its licensing business. However, it plans to furnish to Musk for free as part of the information exchange, the sources mentioned. The firehose does not contain confidential information, such personal details of Twitter users that are not public or how often they verify their accounts, the sources added.

Parag Agrawal, Twitter CEO, 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.

According to the report, 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.