Elon Musk Tells Twitter He Is Not Buying The Company

Elon Musk Tells Twitter He Is Not Buying The Company

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In this photo illustration, a phone screen displays the Twitter account of Elon Musk with a photo of him shown in the background, on April 14, 2022, in Washington, DC. Olivier DOULIERY / AFP
In this photo illustration, a phone screen displays the Twitter account of Elon Musk with a photo of him shown in the background, on April 14, 2022, in Washington, DC. Olivier DOULIERY / AFP

 

Elon Musk pulled the plug on his deal to buy Twitter on Friday, accusing the company of “misleading” statements about the number of fake accounts, a regulatory filing showed.

Musk terminating the $44 billion deal he inked in April to buy the San Francisco company sets the stage for a court battle over a billion-dollar breakup fee and more.

“Mr. Musk hereby exercises (the) right to terminate the Merger Agreement and abandon the transaction,” his lawyers said in a letter to Twitter, a copy of which was filed with the Securities and Exchange Commission.

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