Elon Musk Files To Terminate Agreement To Buy Twitter For $44 Billion

Elon Musk wants out of his $44 billion agreement to purchase Twitter.

Musk initially filed to purchase the social media platform in late April, but said in a filing on Friday that Twitter was in breach of the original sale agreement. Musk says Twitter failed to comply with his request for information about the number of fake and spam accounts on the platform.

Musk also claims Twitter failed to conduct business as usual after firing two high-ranking employees and laying off a third of its talent acquisition team.

“Twitter has not provided information that Mr. Musk has requested for nearly two months notwithstanding his repeated, detailed clarifications intended to simplify Twitter’s identification, collection, and disclosure of the most relevant information sought in Mr. Musk’s original requests,” the filing on Musk’s behalf read.

Whether Musk can get out of the agreement, however, remains to be seen.

Twitter board chair Bret Taylor said in a statement on social media that the company will pursue legal action to close the purchase agreement.

Get your popcorn ready, because we will have to wait and see how this all plays out.

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