Twitter has agreed to share a huge chunk of content content on its platform with Elon Musk, after the billionaire entrepreneur threatened to abandon the $ 44 billion acquisition of the social media company if it did not provide more information about fake and blatant accounts.
The San Francisco company also told employees internally on Wednesday that it expects to hold a shareholders’ vote on the deal by early August, according to a person familiar with the situation.
Of Twitter The board plans to share the “fire hose” of publicly available data on tweets with Musk that it typically sells to social media monitoring companies, one person said.
The fire pipe includes a real-time stream of tweets, and information like the devices from which they are written. However, it does not include users’ private information such as IP addresses, which Twitter has previously suggested is essential to how it values fake accounts.
The news, first reported by the Washington Post, comes later Of Musk Lawyers at Skadden, Arps, Slate, Meagher and Flom said in a letter to Twitter’s legal director on Monday that the company “refused to provide the information. [he] Has repeatedly asked since May 9 “how he calculates the number of fake accounts and spam bots on the platform.
Musk challenged Twitter’s stated assessment that less than 5% of its daily active users are blunt, threatening to stay out of the deal unless the platform provides proof.
Musk’s lawyers said Monday that by “actively resisting and thwarting his information rights,” it constitutes “Clear Substantial Violation of Twitter Duties” This will allow Musk to “terminate the merger agreement.”
One person close to Twitter’s board said Musk’s staff had previously requested access to the fire pipeline data, but his staff had previously been reluctant to agree to confidentiality agreements and other privacy terms set for those who accessed them.
The man noted that Musk’s lawyers said in a letter Monday that any third party reviewing the data would comply with the NDA and that Musk would not maintain or otherwise use “competitive sensitive information” if the deal was not closed.
Musk’s team sent the data requests to Twitter amid speculation that Musk is looking for an excuse to renegotiate or be away From the deal when the technology market cools down.
A Twitter spokesman declined to comment but said: “Twitter has and will continue to share information in cooperation with Mr. Musk to complete the transaction in accordance with the terms of the merger agreement.”
The spokesman reiterated a previous statement that the company “believes that this agreement is for the benefit of all shareholders” and “intends to close the transaction and enforce the merger agreement at the agreed price and conditions”. Musk did not immediately respond to a request for comment.
Twitter to share data with Musk as it presses ahead with vote on $44bn deal Source link Twitter to share data with Musk as it presses ahead with vote on $44bn deal