elon musk cancels $44 billion Twitter deal

Elon Musk, the CEO of Tesla, wants to end a 44 billion dollar deal with Twitter. Reuters reported that on Friday, Musk said he was ending the deal because the microblogging site.

Skadden Arps attorney Mike Ringler sent a letter to Twitter on Musk's behalf.

In the letter, he said that the social media platform had broken the merger agreement by not doing what it was supposed to do. In the meantime, Bret Taylor, the head of Twitter's board of directors.

Taylor, in a tweet, said, "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."

Musk's lawyer said that the information about fake or spam accounts on Twitter is important for the company's business.

Musk had also recently said that he would not go through with the deal unless Twitter could prove that less than 5% of its users were spam accounts.

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