Elon Musk Has Terminated His Deal To Buy Twitter
It looks like Elon Musk might not be buying Twitter after all as it has now been confirmed that the billionaire is terminating his deal to buy the social media platform. This is according to a new filing with the Securities and Exchange Comission, although backing out of the deal may not be as easy as Musk would like it to be.
Shortly after Musk's plans to back out of the deal were made public, Twitter chairman Bret Taylor posted to his personal Twitter account that the Twitter Board is determined to see the deal to the end. Taylor says that the board plans to "pursue legal action" to force the merger through and is confident that they "will prevail."
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While this is big news, it's probably not that shocking for some. Ever since details of the potential deal were made public, Musk has continously criticized the platform over a perceived problem with the number of active fake accounts. As recently as last month, Musk accused Twitter of "actively resisting" his information requests to see how many fake accounts were present on the platform after claiming it could not give out the information due to privacy and security concerns.
This is a developing story.
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