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Elon Musk officially moves to kill his deal to buy Twitter

Tesla and SpaceX CEO Elon Musk has made official moves to exit his deal to purchase the second largest social media company.

@JakConnorTT
Published Jul 9, 2022 7:16 AM CDT   |   Updated Mon, Aug 1 2022 1:06 AM CDT

Elon Musk, the world's richest individual, has moved to exit his deal to purchase Twitter, according to recent reports.

Elon Musk officially moves to kill his deal to buy Twitter 25 | TweakTown.com

Reports have surfaced regarding Elon Musk's legal team that has sent a letter to Twitter's Chief Legal Officer Vijaya Gadde, where it stated that Musk is terminating the $44 billion merger agreement to purchase Twitter. Musk's legal team writes that the deal has been terminated over Twitter making false and misleading representations of the company.

Musk's legal team states that due to Twitter's alleged misrepresentation of its company, Musk would be at risk of suffering a Company Material Adverse Effect. This news isn't surprising, considering that Musk's team was unable to determine if Twitter's total number of bot/spam accounts exceeded Twitter's officially estimated 5%. In response to Musk's legal letter, the chairman of Twitter's board of directors, Brett Taylor, stated that Twitter is still committed to closing the deal with the Tesla CEO.

Notably, this is a developing story, and more information will be published as soon as more is learned.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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