Elon Musk has announced that he’s terminating his $44 billion takeover of Twitter.The billionaire claims that the social network has violated multiple provisions of their agreement.
Tesla’s CEO has frequently complained about the number of spam accounts on Twitter — claiming the true figure is higher than what the social network suggests.
It’s very possible that he could be on the hook for a $1 billion fee because of the termination.
While he had proposed a takeover at $54.20 a share, Twitter’s currently trading at $34.65 — with stock plunging 5.67% in after-hours trading after Musk’s shock exit emerged.
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