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BREAKING: Twitter Board Reverses Course, Finally Agree To Comply With Elon Musk’s Demand; Will Share Key Internal Data About Spam Bots With Musk’s Team!

Twitter will be reportedly addressing concerns raised by Elon Musk about the percentage of spam bots on the platform vs real users. The company will reportedly provide full access to the platform’s internal data to Elon Musk. This comes just after Musk threatened to withdraw from the deal if real insights are not shared before finalizing the offer.

The Washington Post reported on Wednesday citing a source familiar with the matter. Twitter’s board of directors has finally decided to allow Elon Musk to review key internal data.

In an SEC filing from earlier this week, Musk’s legal team alleged that Twitter is not letting them access critical data about the platform’s user base that would “facilitate his evaluation of spam and fake accounts on the company’s platform.”

Musk had previously requested evidence from the Twitter board of directors who claim that the spam bots make up less than 5% of the platform’s total user base. After days of not responding and complying with this request, Musk’s team threatened to pull back from the massive $44 billion agreement.

According to Musk’s team, the data is necessary for Elon to understand the company’s business model and overall revenue stream.

“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,” Musk’s legal team wrote in an SEC filing.

“To do both, he must have a complete and accurate understanding of the very core of Twitter’s business model — its active user base,” the filing added.

In a statement to The Washington Post, a Twitter executive wrote: “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.”

Dan Ives, an analyst at the private banking company, Wedbush in reference to this report wrote: “This would be a big step to get this major hot button issue around the fake accounts/bots front and center. Musk had first shot across the bow this week, glad to see Twitter Board taking this step and resolving this spiraling issue which has taken on a life of its own.” Ives Tweeted.

“This is all a game of high stakes poker. If Twitter says no mas and does not submit the data for Musk and his team then this stand-off ultimately could lead to him walking away/battle in the courts. Renegotiation will be the focus of Street and data driven bot results” he added.

If Musk attempts to back out of this deal, he could be subject to a $1 billion backup fee under the terms of this buyout agreement.

What do you make of this report? Do you believe Elon Musk should have access to the company’s internal data before finalizing the deal? Share your thoughts in our Facebook comments!

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