Elon Musk Terminates Twitter Bid

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Elon Musk has called the whole thing off — but Twitter isn’t done with him yet.

The mega-billionaire terminated his $44 billion offer for Twitter, notifying the company of the decision on Friday in a letter from his lawyers, according to a regulatory filing.

Musk is claiming that Twitter misrepresented the scope of spam and fake accounts on the social network, saying his team’s preliminary estimates put that “wildly higher” than the sub-5% figure that Twitter has repeatedly claimed.

Twitter said it plans to sue Musk over his nixing of the deal and hold him to his $54.20-per-share deal price.