Friday, July 8, 2022

Elon Musk Pulls Out Of Twitter Deal

Elon Musk, the CEO of Hawthorne, California-based SpaceX, has pulled out of the deal to acquire Twitter, according to an SEC filing. The filing says that "Mr. Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions", including "false and misleading representations" on how many fake and spam accounts are on the service. Musk had offered to purchase Twitter for $44 billion.