Elon Musk suspends his Twitter deal

Elon Musk, who was in the process of buying Twitter, announced on Friday that the deal was “temporarily suspended.”

“The Twitter agreement is temporarily suspended pending details supporting the calculation that spam/fake accounts indeed represent less than 5% of users,” Musk tweeted on Friday.

It was not immediately clear how the metric affected Musk’s decision to buy the company.

Musk struck a deal with Twitter’s board last month to buy the social media giant for $44 billion, after saying he had secured enough funds to do so.

The deal includes a $1 billion termination fee, which Musk would have to pay if he backed out of the sale, according to Bloomberg.

This is a developing story. Please check for updates.




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