Elon Musk is ending his bid for social media platform Twitter and the company's board plans to fight the would-be investor.
Elon Musk announced he will walk away from his tumultuousto buy Twitter, leaving the deal on the verge of collapse. The Tesla CEO sent a letter to Twitter's board Friday saying he is terminating the acquisition.
Twitter says it will sue Elon Musk to complete the $44B merger he just rejected and is"confident" it will prevail. The possible unraveling of the deal is just the latest twist in a saga between the world’s richest man and one of the most influential social media platforms. Much of the drama has played out on Twitter, with Musk — who has more than 100 million followers — lamenting that the company was failing to live up to its potential as a platform for free speech.
Musk lawyer Mike Ringler wrote in the letter to Twitter dated Friday that for nearly two months, Musk has sought data to judge the prevalence of “fake or spam” accounts on the social media platform.
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