By Yasin Ebrahim
Investing.com -- Twitter reportedly plans to comply with Elon Musk’s demands for information on the number of fake accounts on the social media platform, the Washington Post reported Wednesday, citing unnamed sources.
Twitter (NYSE:TWTR) rose more than 2% following the report.
The social media company will provide data that includes more than 500 million tweets posted each day, the report said.
The news provided fresh hopes that the $44 billion take-private deal would proceed. In a regulatory filing earlier this week, Musk threatened to scrap the deal, alleging that the social media company had materially breached the terms of the deal by failing to provide information about the number of both fake accounts and users on its platform.
A shareholder vote on the deal with Musk is reportedly expected to get underway in late July or early August, Vijaya Gadde, Twitter's head of legal and policy, said at an employee meeting, Bloomberg reported, citing people familiar with the matter.