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Elon Musk is trying to back out of the $44 billion Twitter takeover

The billionaire cites misinformation on spam bots being the reason.

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Elon Musk is looking to put an end to the original planned takeover of Twitter. As Bloomberg has reported, the billionaire is attempting to get out of purchasing the social media company for $44 billion, and as for the reason why, misinformation regarding spam bots plaguing the platform is claimed to be the case.

However, as Musk entered into an agreement to buy Twitter Inc, the board for the company is now looking to seek legal repercussions and actions to ensure Musk goes through with his former plan, as Bret Taylor, chairman of the Twitter board stated on the social media.

"The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery."

According to Bloomberg's report, the social media company has also denied Musk's statement about lack of information about spam bots, despite Musk and his team continuing to state that there has been insufficient information provided.

Elon Musk is trying to back out of the  billion Twitter takeover


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