Twitter Shareholders Prepare To Vote On Elon Musk's Offer

JAKARTA - Twitter Inc., has begun anticipating a vote among shareholders on the company's $44 billion sale to Elon Musk to take place in early August.

The top executive of the social media company told employees on Wednesday, June 8 that they are continuing to work constructively to finalize a deal with the world's richest man.

Musk's attorneys had previously warned Twitter on Monday June 6 that he might abandon the acquisition if the company failed to provide the data he sought on spam and fake accounts.

Twitter said it was continuing to share information with Musk. Part of that data is the "firehose," a set consisting of all tweets on the platform analyzed by different parameters, such as the user's device or the profile of the account that published the tweet.

Twitter sells this data to social media monitoring companies as part of its licensing business but plans to give it to Musk for free as part of an exchange of information.

A source on Twitter told Reuters, Firehose does not contain confidential information, such as personal details of Twitter users that are not public or how often they verify their accounts.

Twitter Chief Executive Parag Agrawal tweeted last month that he did not believe the calculation of fake accounts and spam could be carried out outside the company, as that would require personal information that Twitter cannot share.

It's unclear how much classified information about its user base Twitter will share with Musk. A spokesperson for Musk did not immediately respond to a request for comment on the report.

Twitter's top lawyer, Vijaya Gadde, told an employee meeting that the company anticipated being able to hold a shareholder vote on the Musk deal in late July or early August.

During an internal meeting, the company's top executive said Twitter was working to improve its defenses against fake accounts and accounts spreading cryptocurrency spam.