Elon Musk terminates $44 bln Twitter deal

Musk’s lawyers said Twitter had failed or refused to respond to multiple requests for information on fake or spam accounts on the platform

Tesla Inc Chief Executive Officer Elon Musk said on Friday he was terminating his $44 billion deal for Twitter Inc, saying that the social media company had failed to provide information about fake accounts on the platform.

Shares of Twitter fell 6% in extended trading.

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.

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Source: Reuters