Elon Musk is formally trying to end his bid to buy Twitter. After hinting heavily that he no longer wanted the company in tweets attacking Twitter over its bot calculations and an ominous story in The Washington Post this week reflecting his thinking, Musk’s legal team is taking steps to terminate his $44 billion deal to buy Twitter.
“Mr. Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect,” Musk’s lawyers wrote in a letter to Twitter’s Chief Legal Officer Vijaya Gadde.
Musk points to his unsubstantiated claims that Twitter is misleading investors and users about the number of fake accounts on its platform, which the company has long estimated to be under 5%. Musk had no apparent qualms with Twitter’s bot count prio …
