In the continuing saga of Elon Musk is trying to purchase Twitter, the company has agreed to provide more information after Musk threatened to pull out of the deal. When you are paying several billion dollars for something, you have a right to know exactly what you’re getting. And that’s exactly what Musk is demanding.
Elon Musk accused Twitter of breach of contract for failing to provide information about spam accounts. Musk said Twitter was “resisting and thwarting” his right to investigate how many fake, spam accounts are found on the platform. His attorney called it a “clear material breach” of the their merger agreement in a letter.
Now, Twitter has reportedly agreed to address Musk’s concerns about spam bot accounts, “by providing full access to its internal accounts,” reports The New York Post. Twitter’s Board of Directors has agreed to allow Musk full access to its data “firehose,” which “includes data on the tweets themselves as well as the accounts and devices from which they originate,” said The New York Post.
Musk’s legal team filed with the SEC saying “[a]s Twitter’s prospective owner, Mr. Musk is clearly entitled to the requested data to enable him to prepare for transitioning Twitter’s business to his ownership and to facilitate his transaction financing. To do both, he must have a complete and accurate understanding of the very core of Twitter’s business model — its active user base.” Musk won that battle, although Twitter claims he is unlikely to learn anything new.
A Twitter spokesperson gave a statement in response to the original report from the Washington Post. The statement said, “Twitter has and will continue to cooperatively share information with Mr. Musk to consummate the transaction in accordance with the terms of the merger agreement. We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement at the agreed price and terms,” reported The New York Post.
No one can argue that Elon Musk isn’t a brilliant man, and a brilliant businessman. Having billions of dollars allows him to access the best attorneys and helps him make things happen. It seems quite reasonable that he would want to know how many fake accounts are on the platform he is about to spend $44 billion to buy. Do you think Musk will end up purchasing Twitter?