Elon Musk says he's terminating $44B Twitter buyout deal
San Francisco (AP): Elon Musk's tumultuous 44 billion bid to buy Twitter is on the verge of collapse after the Tesla CEO sent a letter to Twitter's board Friday saying he is terminating the acquisition.
Twitter did not immediately respond to a message for comment. It is not entirely clear whether Twitter's board will accept the 1 billion breakup fee or if there will be a court battle over the deal.
The possible unraveling of the deal is just the latest twist in a saga between the world's richest man and one of the most influential social media platforms. Much of the drama has played out on Twitter, with Musk who has more than 95 million followers lamenting that the company was failing to live up to its potential as a platform for free speech.
On Friday, shares of Twitter fell 5% to 36.81, well below the 54.20 that Musk had offered to pay. Shares of Tesla, meanwhile, climbed 2.5% to 752.29.
In a letter to the Securities and Exchange Commission, Musk said Twitter has not complied with its contractual obligations surrounding the deal, namely giving Musk enough information to make an independent assessment of the prevalence of fake or spam accounts on Twitter's platform.
Musk's flirtation with buying Twitter appeared to begin in late March. That's when Twitter has said he contacted members of its board including co-founder Jack Dorsey and told them he was buying up shares of the company and interested in either joining the board, taking Twitter private or starting a competitor. Then, on April 4, he revealed in a regulatory filing that he had became the company's largest shareholder after acquiring a 9% stake worth about 3 billion.
At first, Twitter offered Musk a seat on its board. But six days later, Twitter CEO Parag Agrawal tweeted that Musk will not be joining the board after all. His bid to buy the company came together quickly after that.
Musk had agreed to buy Twitter for 54.20 per share, inserting a 420 marijuana reference into his offer price. He sold roughly 8.5 billion worth of shares in Tesla to help fund the purchase, then strengthened his commitments of more than 7 billion from a diverse group of investors including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison.
Inside Twitter, Musk's offer was met with confusion and falling morale, especially after Musk publicly criticized one of Twitter's top lawyers involved in content-moderation decisions.
As Twitter executives prepared for the deal to move forward, the company instituted a hiring freeze, halted discretionary spending and fired two top managers. The San Francisco company has also been laying off staff, most recently part of its talent acquisition team.
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Killing of Tripura student in Dehradun a horrific 'hate crime': Rahul Gandhi
New Delhi (PTI): Leader of Opposition in Lok Sabha Rahul Gandhi on Monday called the killing of a Tripura student in Uttarakhand's Dehradun a "horrific hate crime", as he accused the ruling BJP of "normalising" hate.
Twenty-four-year-old Angel Chakma from Nandannagar in the West Tripura district was attacked by a group of six people when he objected to an alleged racial slur on December 9 in Dehradun. He succumbed to his injuries while undergoing treatment on December 26.
In a post on X, Gandhi said hate does not appear overnight.
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"What happened to Anjel Chakma and his brother Michael in Dehradun is a horrific hate crime," he said.
"Hate doesn't appear overnight. For years now, it is being fed daily -- especially to our youth -- through toxic content and irresponsible narratives. And it's being normalised by the hate-spewing leadership of the ruling BJP," he said.
The Leader of Opposition said India is built on respect and unity, not fear and abuse.
"We are a country of love and diversity. We must not become a dead society that looks away while fellow Indians are targeted. We must reflect and confront what we are allowing our country to become," he said.
"My thoughts are with the Chakma family and the people of Tripura and Northeast. We are proud to call you our fellow Indian brothers and sisters," Gandhi added.
Tripura Chief Minister Manik Saha on Sunday said his Uttarakhand counterpart Pushkar Singh Dhami has assured him that all persons responsible for the murder will be arrested.
Thousands of students under the banner of Tipra Indigenous Students' Federation on Sunday organised a candle march here seeking justice for Angel Chakma. The students covered a distance of around one kilometre from the North Gate of Ujjayanta Palace.
What happened to Anjel Chakma and his brother Michael in Dehradun is a horrific hate crime.
— Rahul Gandhi (@RahulGandhi) December 29, 2025
Hate doesn’t appear overnight. For years now it is being fed daily - especially to our youth - through toxic content and irresponsible narratives. And it’s being normalised by the… pic.twitter.com/eDN7XiIGZ2
