Tesla CEO, Elon Musk is threatening to pull out of the proposed deal to take over Twitter, should the social media giant continue to hold back spam bot data that is being requested by the billionaire investor.
The news that Elon Musk wants to take over Twitter make the rounds earlier this year with the transaction size valued at about $44 billion. While there has been a lot of interest on Elon Musk’s part, evident in his propositions to make the social media giant a better place to facilitate free speech, the billionaire is asking for the exact number of spam accounts on the platform.
While Twitter has shared its own figures with Elon Musk’s camp, there is still a demand to grant access to the platform’s raw data for an independent analysis. Thus far, Twitter has refused o grant this access.
“As 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’s legal team wrote in a letter shared with Twitter and lodged as a filing with the SEC. “At this point, Mr. Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Mr. Musk’s own analysis of that data will uncover.”
Should Twitter continue to refuse, the lawyers argue that it would have been deemed that they are denying Musk his rights based on the contract, and he reserves the right to pull out of the acquisition deal.
Elon Musk Really Wants Twitter
From proposing that Twitter Blue should be receiving payments through Dogecoin (DOGE) to the raising of funds from Binance and other entities, all shreds of evidence point to the fact that Elon Musk truly has a plan for Twitter, first by taking the company private alongside his new owners.
While it is yet unclear how long this data sharing stalemate will last, it is pertinent to note that more people want Musk to take over Twitter and aligns with the free speech narrative