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US - 2 weeks ago

Elon Musk Puts Twitter Deal On Hold

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

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted Friday.

It wasn’t immediately clear how the metric affected Musk’s decision to buy the the company.

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

The deal includes a $1 billion termination fee, which Musk would have to pay if he walked away from the sale, according to Bloomberg.

This is a developing story. Please check back for updates.

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