The owner of Tesla and the world’s richest person Elon Musk has announced the termination of his $44 billion deal to buy Twitter.
This comes after the social media company had breached multiple provisions of the merger agreement.
On Friday, Musk’s lawyers said Twitter had failed to respond to multiple requests for information on those accounts, which is fundamental to the company’s business performance.
“Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information,” said the lawyers.
Musk’s decision is likely to result in a protracted legal tussle between the billionaire and Twitter.
Meanwhile, Twitter’s chairman, Bret Taylor, said the board planned to pursue legal action to enforce the merger agreement.
