World’s richest man had reached a deal to purchase shares of the social media app for $54.20 apiece on 25 April
Elon Musk has withdrawn his $44bn bid to buy Twitter after a dramatic few weeks in the company’s corporate history.
“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,” wrote lawyers for Musk to Twitter.
