Elon Musk says he’s terminating $44B Twitter buyout deal

By The Associated Press, Mercedes Martinez

Published July 8, 2022 2:54 PM

(AP) - Elon Musk’s tumultuous $44 billion bid to buy Twitter is on the verge of collapse — after the Tesla CEO sent a letter to Twitter’s board saying he is terminating the acquisition.

Twitter did not immediately respond to a message for comment.

It is not entirely clear whether Twitter’s board will accept the $1 billion breakup fee or if there will be a court battle over the deal.

The possible unraveling of the deal is just the latest twist in a saga between the world’s richest man and one of the most influential social media platforms.

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The Associated Press

Mercedes Martinez

Mercedes Martinez joined the KSWT team as anchor/producer in October 2020. You can catch her on 13 On Your Side at 4:00pm.

Reach out to Mercedes at mercedes.martinez@kecytv.com.

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