Twitter is reportedly capitulating to Elon Musk’s demands, giving him access to a “firehose” of data in an effort to keep his acquisition deal alive.
Musk made an offer to buy Twitter in April, an offer the company eventually accepted. Less than a month later Musk suspended his bid after Twitter reported that bots and spam accounts only made up 5% of its user base, saying he wanted proof before the deal could move forward. According to The Washington Post, the company is now agreeing to give Musk what he wants.
Interestingly, the data stream Musk is being given access to has long been available to companies that pay Twitter for access. This has led some to speculate that Musk doesn’t really want to analyze the stream, but is using the entire scenario to renege on his deal or renegotiate the terms.
For its part, based on the statement it released, Twitter seems quite intent on making the deal happen:
“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,” the statement said. “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.”