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Elon Musk tells Twitter he wants to end his deal to buy the company

2022-07-08T21:54:39.043Z


Elon Musk wants to terminate the $44 billion deal to buy Twitter, the latest in a breakneck process. Musk pressures Twitter in the middle of the purchase process 0:45 (CNN) -- Elon Musk wants to back out of a $44 billion deal to buy Twitter, the latest in a whirlwind process in which he became the company's largest shareholder, turned down a board seat, agreed to buy the social media and then began raising doubts about going ahead with the deal. On Friday afternoon, Musk claimed in a regulatory


Musk pressures Twitter in the middle of the purchase process 0:45

(CNN) --

Elon Musk wants to back out of a $44 billion deal to buy Twitter, the latest in a whirlwind process in which he became the company's largest shareholder, turned down a board seat, agreed to buy the social media and then began raising doubts about going ahead with the deal.

On Friday afternoon, Musk claimed in a regulatory filing that he is ending the deal because Twitter is "in material breach of multiple provisions" of the original deal, which was signed in April.

  • Elon Musk threatens to cancel deal to buy Twitter

Musk has for weeks expressed concern, with no apparent evidence, that there are a greater number of bots and spam accounts on the platform than Twitter has publicly said.

Analysts have speculated that the concerns may be an attempt to create a pretext to get out of a deal that it may now see as too expensive.

Twitter did not immediately respond to a request for comment.

This is a developing story.

Elon MuskTwitter

Source: cnnespanol

All news articles on 2022-07-08

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