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Musk Backs Out of $44 Billion Twitter Deal Over Bot Accounts

  • Tesla CEO says company has misled him on issue of spam bots
  • Twitter has vowed to take Musk to court to enforce deal
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Elon Musk Terminates Deal for Twitter
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Elon Musk is trying to end an agreement to buy Twitter Inc. for $44 billion and take it private, alleging that the company misrepresented user data and setting the stage for an arduous court brawl.

The pullout marks a dramatic turn in a half-year saga that began with Musk building up an equity stake, lining up an elaborate financing plan and then striking a deal in April. Throughout, Musk has accused the company of misleading the public about the number of automated accounts known as spam bots on its platform, culminating with a termination letter sent Friday.