Elon Musk Cancels Twitter Purchase Deal

Billionaire Elon Musk, CEO of Tesla, announced that he has canceled his $44 billion agreement to buy Twitter, stating that the social media company has failed to provide information about fake accounts on its platform. Twitter's shares fell by six percent in post-market trading. Musk's lawyers informed regulatory bodies that Twitter has neglected or refused to respond to multiple requests for information about fake or spam accounts on the platform, which is crucial for the company's performance. Brett Taylor, chairman of the platform, stated that the board intends to pursue legal action to enforce the merger agreement. He wrote, "The Twitter board is committed to closing the deal at the price and terms agreed upon with Mr. Musk." For his part, the head of Twitter announced that the company would take legal action aimed at compelling billionaire Elon Musk to "execute" the purchase deal of the platform.