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Elon Musk says he's terminating $44B Twitter buyout deal

Elon Musk says he's terminating $44B Twitter buyout deal
Elon Musk
Posted at 2:57 PM, Jul 08, 2022
and last updated 2022-07-08 17:57:21-04

(AP) — 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 unraveling 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.