Twitter Inc.’s top attorney, Vijaya Gadde, reassured staff on Wednesday that the deal to sell the company to billionaire Elon Musk is still progressing.
Twitter Inc.’s top attorney Vijaya Gadde reassured staff on Wednesday that the deal to sell the company to billionaire Elon Musk is still progressing and that a shareholder vote will take place in late July or early August, according to people familiar with the deal. matter .
The company is simply awaiting approval of the proxy from the Securities and Exchange Commission, after which it will be sent to shareholders, Vijaya Gadde, Twitter’s head of legal affairs and policy, said at an employee meeting, the people said.
Musk has been publicly skeptical in recent weeks about Twitter’s user numbers and the number of automated bots, raising uncertainty about whether he will complete the deal. The company is sharing its firehose of public tweet data with Musk in an effort to allay his concerns, according to the Washington Post.
“Twitter has and will continue to share information with Mr. Musk to complete the transaction in accordance with the terms of the merger agreement. We believe this agreement is in the best interests of all shareholders,” the company said. “We intend to complete the transaction and enforce the merger agreement at the agreed price and terms.”
Gadde and other executives responded Wednesday to a series of questions and concerns from employees about the deal. Including: Whether people can continue to work from home, as Twitter has promised to make 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.
