Twitter Buyout Saga Intensifies as Data Access Sparks Debate
Board of Directors excitement Studies that meet the information demands raised by Elon Musk will continue the acquisition of the company and may even gain access to the entire data stream on the social network, which includes more than 500 million tweets posted daily, according to The Washington Post, which cites a source familiar with the situation.
Last Monday, Elon Musk warned that the company reserves the right to not complete the transaction for 44,000 million dollars (41,041 million euros) to buy Twitter due to resistance to respond to requests for information about fake user accounts and spam.
In a letter sent by Musk’s lawyers to the United States Securities and Exchange Commission, the billionaire’s legal team described Twitter’s position as a material breach of its merger obligations, allowing Musk to reserve all rights arising, including the right not to complete the transaction and the right to terminate the merger agreement.
The Washington Post notes that access could include not only a real time record of tweets but also data on source devices and source accounts, with a potential disclosure as early as this week.
In this sense, the company that owns the social network remains skeptical about Musk’s ability to detect new information in the data, citing that such information has been available to as many as 24 firms that paid Twitter to analyze it over the years.
Twitter’s spokesperson, Scott Bisang, told The Washington Post that the social network has shared information with Mr. Musk to complete the transaction in line with the merger terms and will continue to share it collaboratively.
There is a belief that the deal represents the best outcome for all shareholders, with an intention to close the transaction and implement the merger agreement at the agreed price and terms.