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Twitter has agreed to share more data with Elon Musk his dissatisfaction with the data received on bots and spam accounts. Twitter shared more data on bots, including the real-time API data, which is likely to be enough details Elon Musk needs to proceed with the $44 billion acquisition deal.
According to sources, Musk’s lawyers sent another letter to Twitter claiming the data on daily active users is insufficient. Elon Musk needs more data as his team was unable to perform analysis on bot accounts.
Twitter Sends More Details on Bot Accounts
Elon Musk had earlier warned to terminate the Twitter deal after the social media giant failed to share data on bot accounts. However, Twitter shared data on daily active users and bot accounts, while claiming that Twitter has less than 5% bot accounts.
A Twitter spokesperson told Business Insider:
“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.”
Some company insiders believe the continuous data requests is an attempt by Elon Musk to claim Twitter as non-compliant. This is so that he can force a renegotiation of the acquisition deal at a lower price.
Elon Musk believes Twitter has more than 20% bot or spam accounts and Twitter’s claim of having less than 5% bot accounts is false. Hence, he had put the Twitter deal on hold until he gets a clear idea of the number of these accounts.
He had earlier agreed to buy Twitter for $54.20 per share before a wider correction in the stock market. Currently, shares of the company are trading under $39. If Musk backs out of the deal, Twitter might file a lawsuit against Musk.
Twitter’s Board Remains Committed to the Deal
Twitter’s board of directors is actively looking for the deal. The board has even recommended Twitter shareholders to vote and approve the acquisition deal. A special shareholders meeting will be held in July or early August to approve the deal.
The new data is a ‘data stream of Tweets and user activity on the platform that is also available to developers through Twitter’s developer platform.
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