Elon Musk ends $44 billion deal to take over Twitter | Scientific and technical news

Elon Musk has pulled out of a deal to take over Twitter for $44bn (£36.5bn).

In a statement provided to the U.S. Securities and Exchange Commission, representatives for Mr. Musk said Twitter breached the terms of an agreement and “appears to have made false and misleading statements.”

They said Twitter also failed to provide the data and information requested by Mr Musk to allow him to “make an independent assessment of the prevalence of fake or spam accounts” on the social media platform.

“Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that seem unwarranted, and sometimes it has pretended to comply while giving Mr. Musk incomplete or unusable information.” communicated.

Following Mr. Musk’s decision, shares of Twitter fell 7% in extended trading.

The terms of the deal require Mr Musk to pay a $1bn (£830m) severance fee if he does not complete the deal, but it is not entirely clear whether the board administration of Twitter will accept payment or there will be a court. battle over the case.

The eventual breakdown 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 sites.

Much of the drama unfolded on Twitter, with Mr Musk – who has more than 95 million followers – lamenting that the company is not living up to its potential as a platform for freedom of expression.

Tesla’s chief executive had previously threatened to end the deal unless the company proves that spam and bot accounts accounted for less than 5% of users who see advertising on its service.

Last month, Twitter gave Mr Musk access to its “firehose”, which is its location for storing raw data on hundreds of millions of daily tweets.

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