BILLIONAIRE BOYS FEUD: Elon Musk Slaps Back At Trump’s Latest Insults

On Friday, Musk announced he was terminating the deal, citing “material breach of multiple provisions” of the agreement and alleging Twitter failed to respond to multiple requests for information about fake or spam accounts.

The chair of Twitter’s board, Brett Taylor, said Friday that the board was “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.”

Musk could be on the hook for a $1 billion termination fee even if he persuades a judge to let him back out of the deal.

Twitter stocks were hammered on Monday with shares down more than 11% in the first day of trading since Musk announced he was abandoning his deal.



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