According to a report by Washington Post, Twitter’s board is planning to comply with Elon Musk’s demands as part of the takeover deal. Musk’s demand for internal data and offering access to its full firehose is likely to be provided as part of the Elon Musk Twitter takeover. Firehose is the massive stream of data comprising more than 500 million tweets posted on a daily basis.
The development comes around 48 hours after Musk updated in an SEC filing about his reservations on the deal. On Monday, Musk had in the SEC filing warned to withdraw from the Twitter takeover deal if the demand was not met. In a letter, the Tesla CEO detailed his reservations on objections to the way Twitter’s handling of fake accounts.
Musk’s Right To Gain Access To Twitter Data
He made it clear that Twitter is required to provide data under Elon Musk Twitter deal agreement. Musk is clearly entitled to the requested data as a prospective owner owner of the social media company, his legal team said.
This is to enable him to prepare for transitioning Twitter’s business to his ownership. Also, to facilitate his transaction financing.
“To do both, Musk must have a complete and accurate understanding of the very core of Twitter’s business model, its active user base.”
Elon Musk Twitter Deal All But Done From Here?
Undoubtedly, the compliance agreement from Twitter could go a long way for Musk’s consideration to close the deal. In fact, his doubts about the proportion of spam and fake accounts was the lone objection he made publicly. If all goes smoothly with respect to providing accounts data and Musk’s evaluation, this is all but a done deal.
In Monday’s letter, Musk’s team said Twitter’s refusal to provide data was causing further suspicion. The company is withholding data due to concern for what Musk’s analysis of data will uncover, it doubted.
Musk believes Twitter is actively resisting and thwarting his information rights under the merger agreement, the letter said. “This is a clear material breach of Twitter’s obligations under the merger agreement.”
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Source: https://coingape.com/breaking-twitter-finally-obliges-elon-musk-demand-in-takeover-deal/