Elon Musk Wants to Terminate $44 Billion Twitter Acquisition [Updated]
Elon Musk no longer plans to purchase Twitter for $44 billion, according to Reuters. Musk told Twitter this evening that he is calling off the deal because of "material breach of multiple provisions of the agreement."
Back in April, Musk offered to buy Twitter for $54.20 per share, and Twitter agreed to accept the offer in late April. Since then, the deal has been up in the air because of an issue over spam or fake accounts.
Musk in May put his Twitter takeover "temporarily on hold" because he did not believe Twitter's claim that fake or spam accounts represent less than five percent of users. Musk at the time said that he was "still committed to the acquisition," but he also said that he wanted to look into Twitter's spam account data.
In a notice to Twitter, Musk said that Twitter did not comply with its contractual obligations and that he was not provided with the relevant business information that he requested.
Update: Twitter chairman Bret Taylor says that Twitter's board is "committed to closing the transaction" and plans to pursue legal action to enforce the agreement.
Note: Due to the political or social nature of the discussion regarding this topic, the discussion thread is located in our Political News forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.
Popular Stories
With the fifth beta of iOS 16, Apple has updated the battery icon on iPhones with Face ID to display the specific battery percentage rather than just a visual representation of battery level. The new battery indicator is available on iPhone 12 and iPhone 13 models, with the exception of the 5.4-inch iPhone 12/13 mini. It is also available on the iPhone 11 Pro and Pro Max, XS and XS Max, and...
The iPhone 14 and iPhone 14 Pro models are rumored to be available in a refreshed range of color options, including an all-new purple color. Most expectations about the iPhone 14 lineup's color options come from an unverified post on Chinese social media site Weibo earlier this year.
Overall, the iPhone 14 and iPhone 14 Pro's selection of color options could look fairly similar to those of the ...
Apple this week brought back one of the most highly requested features from iOS users since the launch of the iPhone X in 2017: the ability to see your battery percentage directly in the status bar.
Ever since the launch of the iPhone X with the notch, Apple has not allowed users to show their battery percentage directly in the status bar, forcing them to swipe down into Control Center to...
Apple today seeded the fifth beta of iOS 16 to developers for testing purposes, introducing some small but notable changes to the iOS operating system.
Subscribe to the MacRumors YouTube channel for more videos. We've rounded up everything new in the fifth beta below.
Battery Percentage in Status Bar
The battery icon in the status bar now displays the exact battery percent, a feature that ...
The camera bump on the upcoming iPhone 14 Pro Max is expected to be the largest rear lens housing Apple has ever installed on its flagship smartphones, and a new photo offers a rare glimpse at just how prominent it is compared to Apple's predecessor device.
iPhone 14 Pro Max dummy (left) vs iPhone 13 Pro Max All iPhone 14 models are expected to see upgrades to the Ultra Wide camera on the...
Apple has "started to record" its virtual September event, where it's expected to announce the upcoming iPhone 14 lineup, the Apple Watch Series 8, and a new "rugged" Apple Watch model, according to Bloomberg's Mark Gurman. Writing in his latest Power On newsletter, Gurman says the event, which is expected to take place in the early part of September, is already under production, implying...
While the iPhone 14 and Apple Watch Series 8 are expected to be announced in September as usual, there are several more Apple products rumored to launch later this year, including new iPad and Mac models and more.
Beyond the iPhone and Apple Watch, we've put together a list of five Apple products that are most likely to be unveiled by the end of 2022.
Second-Generation AirPods Pro
Apple...
Top Rated Comments
He'll be sued for billions. There stock dropped because of him. People quit because of him. They laid off people because of him.
Musk is the worst
Counting banned spam accounts as MAUs is definitely done with intent to deceive.
He did successfully get the attention away from the sexual abuse allegations made against him.