Elon Musk wants to pull out of his $44bn deal to buy Twitter


Stop us if you saw this coming – *the entire Music Ally readership hold up ‘Stop’ signs while shouting ‘Stop!’ – but Elon Musk has decided that he doesn’t want to buy Twitter for $44bn after all.

Musk’s lawyers sent Twitter a sharply-worded missive claiming he was pulling out due to “material breach” of multiple provisions of the acquisition agreement, including “false and misleading representations” about its user numbers.

Twitter isn’t taking these accusations lying down however. “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,” responded its chairman Bret Taylor.

And yes, if a Delaware judge agrees with the company’s arguments, in theory Musk could be forced to go through with the acquisition. A settlement seems the most likely (and frankly, least messy for all concerned – including Twitter users) outcome.

Written by: Stuart Dredge