BusinessNewsSocial MediaElon Musk Calls Off $44bn Twitter Bid, Battles With $1bn Breakup Fee
Elon Musk, Tesla CEO, has backed out of his $44 billion Twitter takeover deal, setting the stage for an epic court battle over a billion-dollar breakup fee and more. This is according to a letter sent by a lawyer on Musk’s behalf to Twitter’s Chief Legal Officer on Friday. In the letter, disclosed in a Securities and Exchange Commission filing, Skadden Arps attorney, Mike Ringler, said Tesla’s Chief Executive Officer was exercising his right to...