Twitter agreed to share more data with Elon Musk his dissatisfaction with the data received in bots and spam accounts. Twitter shared more bot data, including real-time API data, which will likely be enough details Elon Musk needs to go ahead with the $44 billion acquisition deal.
According to sources, Musk's lawyers sent another letter to Twitter claiming that data on daily active users is insufficient. Elon Musk needs more data as its team was unable to perform analysis on bot accounts.
Elon Musk had previously warned to end the deal with Twitter after the social media giant failed to share data on bot accounts. However, Twitter shared data on daily active users and bot accounts, claiming that Twitter has less than 5% bot accounts. Some company insiders believe that the ongoing requests for data are an attempt by Elon Musk to claim Twitter as non-compliant. This is so he can force a renegotiation of the acquisition agreement at a lower price.
Elon Musk believes that Twitter has more than 20% bot or spam accounts and Twitter's claim of having less than 5% bot accounts is false. So he suspended the deal with Twitter until he had a clear idea of the number of those accounts. He had previously agreed to buy Twitter at $54,20 a share ahead of a broader correction in the stock market. The company's stock is currently trading below $39. If Musk backs out of the deal, Twitter could file a lawsuit against Musk.
Twitter's board of directors is actively seeking the deal. The board even recommended that Twitter shareholders vote on 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 the Twitter developer platform.
