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Elon Musk halts $44bn Twitter deal
Elon Musk, the billionaire founder of Tesla Inc., says he's ending the $44 billion Twitter deal, adding that the social media company has failed to provide information about fake accounts on the platform.
Musk said so, according to Reuters on Friday.
The development comes after Twitter gave Musk access to its "Firehose," a repository of raw data on hundreds of millions of daily tweets last month.
In a filing, Musk's attorneys said Twitter failed or refused to respond to multiple requests for information about fake or spam accounts on the platform, which is fundamental to the company's business performance.
In April, the billionaire offered to buy Twitter for $43 billion in order to privatize the microblogging platform.
He later agreed to acquire the platform for $44 billion.
But after several internal turbulences over the takeover, Musk decided to withdraw his takeover bid, citing reasons for fake accounts on the platform.
"The Twitter deal is temporarily on hold pending details supporting the calculation that spam/fake accounts actually make up less than 5 percent of users," Musk tweeted.
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