Elon Musk Reiterates His Intention To Back Out Of $44 Billion Twitter Acquisition Deal

CBS San Francisco

August 30, 2022

Elon Musk and Twitter lobbed salvos at each other Tuesday in the latest round of legal filings over the billionaire Tesla CEO's efforts to rescind his offer to buy the social media platform.

Musk filed more paperwork to terminate his agreement to buy Twitter, this time based on information in a whistleblower complaint filed by Twitter's former head of security. Twitter fired back by saying his attempt to back out of the deal is "invalid and wrongful."

In an SEC filing, Musk said his legal team notified Twitter of "additional bases" for ending the deal on top of the ones given in the original termination notice issued in July.

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