Wednesday, September 28, 2022

Elon Musk Pulls Out Of $44bn Deal To Buy Twitter

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Elon Musk has pulled out of a deal to take over Twitter for $44bn (£36.5bn).

In a statement provided to the US Securities and Exchange Commission, representatives for Mr Musk said Twitter breached terms of an agreement and “appears to have made false and misleading representations”.

They said Twitter had also failed to provide data and information requested by Mr Musk.

It is not entirely clear whether Twitter’s board will accept a $1bn (£830 million) break-up fee or if there will be a court battle over the deal.

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Photo Credit: Getty

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