Elon Musk says he’s terminating $44B Twitter buyout deal
Posted July 8, 2022 4:47 pm.
Elon Musk’s tumultuous $44 billion bid to buy Twitter is on the verge of collapse – after the Tesla CEO sent a letter to Twitter’s board saying he is terminating the acquisition.
Twitter did not immediately respond to a message for comment. It is not entirely clear whether Twitter’s board will accept the $1 billion breakup fee or if there will be a court battle over the deal.
The possible unravelling of the deal is just the latest twist in a saga between the world’s richest man and one of the most influential social media platforms.
Much of the drama has played out on Twitter, with Musk – who has more than 95 million followers – lamenting that the company was failing to live up to its potential as a platform for free speech.
More to come…
