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Less than three months ago, Elon Musk, the world’s richest man, struck a blockbuster $44 billion deal to buy Twitter. He proclaimed that the company had “tremendous potential.”
Friday, Mr. Musk tried to back out of the acquisition altogether.
In a regulatory filing prepared by his lawyers, Mr. Musk said he was terminating the Twitter deal because of a continuing disagreement over the number of spam accounts on the platform. He claimed that Twitter had not provided information necessary to calculate the number of those accounts — which the company has said is lower than 5 percent — and that it had appeared to make inaccurate statements.
www.nytimes.com
Friday, Mr. Musk tried to back out of the acquisition altogether.
In a regulatory filing prepared by his lawyers, Mr. Musk said he was terminating the Twitter deal because of a continuing disagreement over the number of spam accounts on the platform. He claimed that Twitter had not provided information necessary to calculate the number of those accounts — which the company has said is lower than 5 percent — and that it had appeared to make inaccurate statements.
![www.nytimes.com](https://static01.nyt.com/images/2022/07/08/multimedia/08twitter-musk/08twitter-musk-facebookJumbo.jpg?year=2022&h=550&w=1050&s=90bc52b4d8ab52008a05e0ea435b50f87dc5bd9e1412b08477c3b5a2c049cad4&k=ZQJBKqZ0VN)
Elon Musk Moves to End $44 Billion Deal to Buy Twitter (Published 2022)
In a regulatory filing on Friday, Mr. Musk said Twitter was in “material breach” of the acquisition agreement.