Tesla CEO Elon Musk terminates his $44 billion contract to buy Twitter, citing material breach.
After a long struggle between the billionaire and the company, they no longer love each other.
Musk offered $54.20 per share, and the company accepted.
Later, he suspended the purchase since, according to him, spam, bots and fake accounts accounted for more than 5% of total users.
It must be remembered that in the contract signed between the company and the buyer, there is a clause that says that if Elon Musk does not complete the purchase, he must pay 1,000 million dollars.
Twitter now says that it has lost more than 6% in the stock market after the refusal to buy.
For now, I'm sure a legal battle between twitter and musk is coming.
PS: thank you all for reading me. a big hug and crypto health.