Elon Musk Backs Out of Twitter Deal

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Elon Musk said on Friday he was terminating his $44 billion deal to buy Twitter because the social media company had breached multiple provisions of the merger agreement. In a filing, Musk’s lawyers said Twitter had failed or refused to respond to multiple requests for information on fake or spam accounts on the platform, which is fundamental to the company’s business performance. Twitter’s chairman, Bret Taylor said the board planned to pursue legal action to enforce the merger agreement.