Elon Musk has withdrawn his $44 billion (£36 billion) offer to purchase Twitter, claiming many violations of the merger agreement.
The news ends a protracted drama that began when the richest person in the world decided to purchase Twitter in April.
Mr. Musk claimed that the reason for his withdrawal was that Twitter had not given him enough information about the quantity of spam and false accounts.
By choosing to leave, he would have to pay a $1 billion (£830 million) break-up fee and risk legal action.
In May, Musk stated that the agreement was “temporarily on hold” as he awaited information on the quantity of spam and phony Twitter accounts.
The company’s claim that less than 5% of its customers are spam bot accounts was challenged by the wealthy businessman, who demanded proof.
Mr. Musk’s attorney said in a letter that Twitter had either failed or refused to give this information.
Source: BBC
