Twitter Inc. plans to hold a shareholder vote by early August on its US$44 billion sale to Elon Musk, as it continues to work “constructively” to complete the deal with the world’s richest person, the social media company’s top executives told employees on Wednesday.
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 said it is continuing to share information with Musk. Part of that data is the “firehose,” a set comprising all tweets on the platform analyzed by different parameters, such as devices of users or profiles of accounts that publish tweets, according to people familiar with the matter.
Twitter sells this data to social media monitoring companies as part of its licensing business but plans to furnish it to Musk for free as part of the information exchange, the sources said.