Elon Musk said he was terminating the agreement to acquire the social network Twitter for $44 billion due to the company’s breach of the deal terms. Reuters reports.<\/p>\n
The decision was prompted by allegations of hiding data on fake accounts<\/a> and inflating the platform’s audience metrics<\/a>.<\/p>\n The chairman of Twitter’s board, Bret Taylor, said the board was prepared to go to court to close the deal on the price and terms agreed with Mr. Musk.<\/p>\n The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.<\/p>\n \u2014 Bret Taylor (@btaylor) July 8, 2022<\/a><\/p>\n<\/blockquote>\n \n