TWITTER CAVES, WILL GIVE DATA TO MUSK: Elon Accused Twitter of Being in ‘Material Breach’

Looks like billionaire and potential Twitter owner Elon Musk will get the transparency he wants from the blue bird. Musk had threatened to walk away from the deal, accusing Twitter of being in “material breach.”

Musk’s lawyers sent a letter to the Twitter board earlier this week.

“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 lawyers wrote. 

“If Twitter is confident in its publicized spam estimates, Mr. Musk does not understand the company’s reluctance to allow Mr. Musk to independently evaluate those estimates,” the letter stated.

Twitter responded by saying it “has and will continue to cooperatively share information with Mr. Musk to consummate the transaction in accordance with the terms of the merger agreement.”

Well, now it sounds like it’s actually true.