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Twitter Acquisition Tracking

This index provides an up-to-date account of Twitter acquisition proposed by Elon Musk.

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Twitter Acquisition Tracking

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Twitter Acquisition Tracking

Elon Musk Aims to Terminate $44 Billion Twitter Deal
KingData News: Elon Musk has decided not to move forward with a $44 billion deal to acquire Twitter after a disagreement with the company about the number of spam and fake accounts. Musk claims that Twitter did not provide adequate information regarding the number of spam accounts on Twitter. "In short, Twitter has not provided information that Mr. Musk has requested for nearly two months notwithstanding his repeated, detailed clarifications intended to simplify Twitter’s identification, collection, and disclosure of the most relevant information sought in Mr. Musk’s original requests," reads the filing. Bret Taylor, chairman of Twitter's board of directors, said Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.
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Twitter Acquisition Tracking

Twitter Plans to Comply With Musk’s Demands for Data KingData News: On June 8, the Washington Post reported, after a weeks-long impasse, Twitter’s board plans to comply with Elon Musk’s demands for internal data by offering access to its full “firehose,” the massive stream of data comprising more than 500 million tweets posted each day, according to a person familiar with the company’s thinking, who spoke on the condition of anonymity to describe the state of negotiations. The move aims to end a standoff with the billionaire, who has threatened to pull out of his $44 billion deal to buy Twitter unless the company provides access to data he says is necessary to evaluate the number of fake users on the platform. The information could be provided as soon as this week, the person said. Currently some two dozen companies pay for access to the trove, which comprises not only a real-time record of tweets but the devices they tweet from, as well as information about the accounts that tweet.
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Jun07Wednesday

Twitter Acquisition Tracking

Elon Musk Accuses Twitter of 'Material Breach' of Agreement — Threatens to End $44B Deal KingData News: In a letter sent to Twitter Inc. Monday, which was also filed with the U.S. Securities and Exchange Commission (SEC), Elon Musk’s legal team wrote: Twitter has … refused to provide the information that Mr. Musk has repeatedly requested since May 9, 2022 to facilitate his evaluation of spam and fake accounts on the company’s platform. “Mr. Musk has made it clear that he does not believe the company’s lax testing methodologies are adequate so he must conduct his own analysis,” Musk’s lawyer added. The letter notes that Twitter is required to provide the data Musk asked for under the merger agreement. Musk’s legal team further argued that the requested data is necessary to form a complete and accurate understanding of Twitter’s active user base, which is “the very core of Twitter’s business model.” The Tesla CEO suspects that Twitter’s refusal to comply with the merger agreement obligations could mean “the company is withholding the requested data due to concern for what Mr. Musk’s own analysis of that data will uncover,” the lawyer detailed. Furthermore, the Spacex boss believes that Twitter is “actively resisting and thwarting his information rights … under the merger agreement,” the letter describes, adding: This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement. (Bitcoin.com)
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Twitter Acquisition Tracking

Twitter Will Hide Tweets That Share False Info During a Crisis KingData News: On Thursday, Twitter announced a new policy for dealing with misinformation during a period of crisis, establishing new standards for gating or blocking the promotion of certain tweets if they are seen as spreading misinformation. “Content moderation is more than just leaving up or taking down content,” explained Yoel Roth, Twitter’s head of safety and integrity, in a blog post detailing the new policy, “and we’ve expanded the range of actions we may take to ensure they’re proportionate to the severity of the potential harm.” The internet is full of viral half-truths, honest mistakes, outright lies, and other unreliable information. But in many cases, you can cut through the chaos by following a few simple rules. The new policy puts particular scrutiny on false reporting of events, false allegations involving weapons or use of force, or broader misinformation regarding atrocities or international response. Hoax tweets and other misinformation regularly go viral during emergencies, as users rush to share unverified information. The sheer speed of events makes it difficult to implement normal verification or fact-checking systems, creating a significant challenge for moderators. Under the new policy, tweets classified as misinformation will not necessarily be deleted or banned; instead, Twitter will add a warning label requiring users to click a button before the tweet can be displayed (similar to the existing labels for explicit imagery). The tweets will also be blocked from algorithmic promotion. The stronger standards are meant to be limited to specific events. Twitter will initially apply the policy to content concerning the ongoing Russian invasion of Ukraine, but the company expects to apply the rules to all emerging crises going forward. For the purposes of the policy, crisis is defined as “situations in which there is a widespread threat to life, physical safety, health, or basic subsistence.” (The Verge)
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