Reply to Elon Musk buys $3 billion stake (9.2%) in Twitter and is now the platform's largest shareholder

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Twitter info dump incoming 
[twitter]https://twitter.com/nytimes/status/1534636422782668806?s=21&t=Hl8p1GYi_Rq4l4z72qD8FQ[/twitter][/quote]

Not sure what Twitter is thinking here.  It seems like they are trying to call his bluff, but they had a really strong legal position to just tell him to pound sand.  With all this data, Musk will come up with all kinds of additional excuses to back out of the deal.  Even if they aren't good excuses, he'll be able to leverage them to grind through years of litigation.  [/quote]

Giving him access to the data neutralizes any attempt by Musk to argue that Twitter somehow breached the merger agreement by failing to provide the information as a way to get out of the deal without paying the break fee.  Access will be subject to strict NDAs, so if Musk discloses any of the data publicly (or even discusses it publicly), Twitter can sue him for breach.  Realistically, there will be too much data for Musk to have his people comb through to find a basis to get out do the agreement, and since he’s already waived due diligence, odds are anything he does find won’t give him grounds to get out of the agreement anyway.  Also, giving him access to the data does not give him access to the proprietary systems Twitter uses to generate its 5% figure, so it’s basically the equivalent of handing him a 10 million piece puzzle with no picture and telling him to figure it out.

Basically, they are calling his bluff because they know he won’t be able to do anything productive with the data in the remaining time horizon of the acquisition, anything Musk does with then data that hurts Twitter will cause him to face massive liability if the deal doesn’t close, and if it does close, then Musk is stuck with the consequences of his damage to Twitter. [/quote]

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