Washington: Elon Musk is tearing up the deal to buy Twitter. The Tesla founder and world’s richest man, whose bid in April to take over the social media company inflamed the tech world, announced he is walking away from his proposed $44 billion acquisition following unresolved disagreements with Twitter’s leadership over fake accounts on the platform.
In a regulatory filing by his lawyers, Musk said Twitter had not provided information necessary to calculate the number of those accounts, which the company has said is lower than 5%. “Twitter is in material breach of multiple provisions” of the deal, and “appears to have made false and misleading representations,” his lawyers said in a filing aimed at kiboshing the agreement.
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