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Ending agreement to buy Twitter: Elon Musk

SAN FRANCISCO (USA): Tesla CEO Elon Musk advised Twitter’s board on Friday that he was terminating its acquisition deal, following which his settlement to purchase the microblogging web site for $44 billion gave the impression to be in jeopardy. Is.
Twitter has but to touch upon this. Additionally it is not clear whether or not the Twitter board pays $1 billion in damages to finish the settlement or whether or not a authorized battle will likely be fought over the deal.

This can be a new twist within the dramatic deal between the world’s richest man and one of the vital influential social media platforms, Twitter. Musk, who has greater than 95 million followers, took to Twitter to say it had did not dwell as much as its potential as a platform without cost expression. Twitter shares fell as a lot as 5 p.c to $36.81 on Friday. In the meantime, Tesla’s inventory jumped 2.5 p.c to $752.29. In a letter to the Securities and Trade Fee, Musk mentioned Twitter “did not comply with its obligations” with regard to the settlement and in addition failed to supply the variety of pretend or spam accounts.

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