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Elon Musk terminates $44-billion Twitter deal

Elon Musk announced the termination of his $44 billion acquisition of Twitter Inc, citing the social media company's failure to provide information about fake accounts on the platform.

Musk's lawyers stated in a filing to the US Securities and Exchange Commission (SEC) that Twitter had failed or refused to respond to multiple requests for information on fake or spam accounts on the platform, which is critical to the company's business performance. Twitter chairman Bret Taylor took to the microblogging site to announce that the company's board of directors intends to take legal action to enforce the merger agreement.

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