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."

twitter elon musk
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.

Top Rated Comments

GizmoDVD Avatar
20 weeks ago
Hahah.

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
Score: 112 Votes (Like | Disagree)
btrach144 Avatar
20 weeks ago
Elon is a looney and an example of too much money making someone lose their mind.
Score: 76 Votes (Like | Disagree)
GMShadow Avatar
20 weeks ago

Hahah.

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
His accusations - sent to the SEC, not the internet - are strong enough to potentially bring about a shareholder revolt and investigation.

Counting banned spam accounts as MAUs is definitely done with intent to deceive.
Score: 71 Votes (Like | Disagree)
Motionblurrr Avatar
20 weeks ago
Embarrassing just like Tesla’s cars.
Score: 64 Votes (Like | Disagree)
0092762 Avatar
20 weeks ago
They should let him terminate the deal with the stipulation of banning him from twitter. That would hurt him a lot. He can join his buddy Trump at truthsocial.
Score: 64 Votes (Like | Disagree)
IsaacM Avatar
20 weeks ago
This man child is the epitome of an attention whore.

He did successfully get the attention away from the sexual abuse allegations made against him.
Score: 57 Votes (Like | Disagree)

Related Stories

twitter elon musk

Twitter Sues Elon Musk to Force $44 Billion Merger

Tuesday July 12, 2022 2:09 pm PDT by
As promised, Twitter today sued Elon Musk in an attempt to force Musk to go through with the $44 billion purchase of Twitter, reports Reuters. Twitter in the lawsuit accuses Musk of trashing the company, disrupting its operations, and destroying stockholder value. Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement,...
twitter elon musk

Elon Musk Proposes to Follow Through With Twitter Acquisition

Tuesday October 4, 2022 9:31 am PDT by
Billionaire Elon Musk has once again reversed course in the ongoing Twitter acquisition saga, today sending a letter to Twitter proposing a purchase at the original price, reports Bloomberg. Musk originally offered to buy Twitter for $44 billion in April ($54.20 per share), a deal that Twitter ultimately accepted. Musk in May put the takeover "temporarily on hold" because of a dispute over...
twitter elon musk

Elon Musk Completes $44 Billion Twitter Takeover, Fires Top Executives, and Makes Himself CEO

Friday October 28, 2022 2:52 am PDT by
Elon Musk has completed his $44 billion takeover of Twitter and instated himself as CEO, just hours before a court-ordered deadline to buy the business expired, according to multiple reports. In a reference to Twitter's logo, billionaire Musk tweeted "the bird is freed," after reportedly firing several top executives, including the chief executive, Parag Agrawal. Musk earlier changed his...
Twitter Blue Subscription Feature Purple

$8 Twitter Blue Subscription With Included Checkmark Now Available

Wednesday November 9, 2022 11:55 am PST by
Twitter today rolled out its updated Twitter Blue subscription offering, which is priced at $7.99 per month. The new subscription is $3 more expensive than the prior $4.99 per month price, and it was introduced at the insistence of Twitter CEO Elon Musk. Musk initially floated a $20 price point for Twitter Blue before settling on $8. The new subscription does away with ad-free articles for...
twitter elon musk

Elon Musk Is Officially Purchasing Twitter for $44 Billion

Monday April 25, 2022 11:53 am PDT by
Twitter has agreed to Tesla CEO Elon Musk's offer to buy the company for $44 billion, Twitter announced today. Bloomberg was first to report early Monday morning that a deal between the two parties was imminent. Two weeks ago, Elon Musk offered to buy Twitter for $54.20 per share. Twitter and Musk, following weeks of speculation and public drama, agreed today to the $44 billion deal. Earlier...
twitter elon musk

Elon Musk Planning Vine Reboot After Twitter Acquisition

Monday October 31, 2022 12:18 pm PDT by
Elon Musk has asked Twitter engineers to begin work on an updated version of Vine that could launch before the end of the year, reports Axios. Musk yesterday tweeted a poll asking if he should "bring back Vine," and 69.5 percent of four million respondents said yes. Twitter acquired video app Vine back in 2012, which was pre-TikTok and back when Vine was popular. The app slowly stopped being ...
Twitter Feature

Twitter for iOS Updated With New $8 Subscription Offering Verification and More [Updated: Not Yet Live]

Saturday November 5, 2022 12:07 pm PDT by
Twitter for iOS was today updated with support for Twitter's upcoming revamped Twitter Blue subscription plan that will enable users to pay $8 per month to be verified on the platform, with other perks such as fewer ads and priority replies. According to the App Store update, Twitter users in the United States, United Kingdom, Canada, Australia, and New Zealand will be able to subscribe to...
Twitter Feature

Twitter Blue Price to Increase to $8 Per Month, Will Include Verification Checkmark and Other New Features

Tuesday November 1, 2022 10:56 am PDT by
Twitter chief Elon Musk today said that the cost of the Twitter Blue subscription is going to be priced at $8 per month, which would be an increase of $3 over the current $4.99 per month price. Twitter Blue will include priority in replies, mentions, and search, which Musk says is "essential to defeat spam/scam," the ability to post longer video and audio clips, and half as many ads. Musk ...

Popular Stories

General Black Friday Deals 2022 Green

All the Apple Black Friday Deals You Can Still Get

Friday November 25, 2022 4:40 am PST by
Although Black Friday is now technically over, many Apple products are still seeing major discounts through the weekend as we head into Cyber Monday. In this article, you'll find every Apple device with a notable Black Friday sale that's still available. We'll be updating as prices change and new deals arrive, so be sure to keep an eye out if you don't see the sale you're looking for yet. Note:...
iphone 14 pro hands snowflakes 1

Best Cyber Monday iPhone Deals Available Today

Wednesday November 23, 2022 1:55 pm PST by
Cellular carriers have always offered big savings on the newest iPhone models during the holidays, and Cyber Monday is no different. We're tracking notable offers on the iPhone 14 and iPhone 14 Pro devices from AT&T, Verizon, and T-Mobile. For even more savings, keep an eye on older models like the iPhone 13. Note: MacRumors is an affiliate partner with some of these vendors. When you click a...
maxresdefault

Nothing Phone 1 Displays AirPods Battery Level After Latest OS Update

Friday November 25, 2022 3:33 am PST by
Nothing Phone 1 users today began receiving the Nothing OS 1.1.7 update, which adds support for displaying the battery percentage of connected AirPods, amongst other improvements and bug fixes. If you own a Nothing Phone 1, you can check for the OTA update by going to Settings -> System -> System updates. Bear in mind that as support for displaying AirPods battery level is still an...
ipad holiday bulbs

Best Cyber Monday iPad Deals Available Today

Thursday November 24, 2022 12:25 pm PST by
Cyber Monday deals have been in full swing since Black Friday deals ended, and we're seeing solid discounts on Apple devices. We're highlighting the best sales for all of Apple's product lines, and in this article you'll find the best Cyber Monday sales on iPad, iPad Pro, iPad Air, and iPad mini. Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make ...
airpods pro 2

Apple Engineer Addresses Lack of Lossless Support on New AirPods Pro

Friday November 25, 2022 2:58 am PST by
An Apple engineer has addressed the lack of lossless audio support in the second-generation AirPods Pro in a new interview. Current Bluetooth technology in the AirPods lineup means that Apple's audio products do not support Apple Music Lossless audio. Apple has previously hinted that it may develop its own codec and connectivity standard that builds on AirPlay and supports higher quality...
Cyber Monday Deals Feature 2022

Best Cyber Monday Apple Deals for AirPods, Apple TV 4K, iPad, More

Monday November 28, 2022 5:24 am PST by
Now that Black Friday is over, the internet's attention has shifted to Cyber Monday deals today. Of course, for Apple products this means that many of the deals you saw last week are basically the same today. Despite this repetition, it's a great chance for anyone who missed out on Black Friday deals to still get the year's best prices on many Apple devices. Note: MacRumors is an affiliate...
Apple Watch Ultra Oceanic Plus App

Apple Announces Oceanic+ App Now Available for Apple Watch Ultra

Monday November 28, 2022 6:11 am PST by
Apple today announced that the Oceanic+ app is available for the Apple Watch Ultra starting today. Designed by Huish Outdoors in collaboration with Apple, the app serves as a dive computer for recreational scuba diving at depths up to 40 meters/130 feet. Apple already offers a basic Depth app on the Apple Watch Ultra for viewing your current depth, maximum depth reached, water temperature,...
Three Biggest iPhone SE 4 Questions Feature

Three Biggest Questions About the iPhone SE 4

Saturday November 26, 2022 12:00 am PST by
While we already have some clear indications about what to expect from the fourth-generation iPhone SE, there are three major questions looming over the device at the current time. Chinese site MyDrivers and and leaker Jon Prosser believe that the iPhone SE is set to move to an iPhone XR-like design in its next incarnation, which would involve eliminating the Home button and adding a "notch" ...