JUST IN: Elon Musk tells Twitter he wants out of his deal to buy the company
New York Elon Musk wants to terminate his $44 billion deal to buy Twitter — the latest in a whirlwind process in which the billionaire Tesla CEO became the company's biggest shareholder, turned down a board seat, agreed to buy the social media platform and then started raising doubts about going through with the deal. The next chapter in the saga is almost certain to be a court battle.
Musk claimed in a letter to Twitter's top lawyer that he is ending the deal because Twitter is"in material breach of multiple provisions" of the original agreement, which was signed in April, according to a regulatory filing Friday evening. Musk has for weeks expressed concerns, without any apparent evidence, that there are a greater number of bots and spam accounts on the platform than Twitter has said publicly.
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