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By Canadian Press

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

Jul 8, 2022 | 4:19 PM

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.

Musk’s flirtation with buying Twitter appeared to begin in late March. At first, Twitter offered Musk a seat on its board, then rescinded it, and Musk then tried to buy the company.

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