Elon Musk Seeks to Abandon $44 Billion Twitter Deal

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Elon Musk reached an agreement to purchase the social-media company in April.
Photo: POOL/via REUTERS

Elon Musk is seeking to terminate his $44 billion agreement to buyTwitter Inc., saying that the company hasn’t provided the necessary data and information he needs to assess the prevalence of fake or spam accounts, according to a regulatory filing Friday.

Twitter “is in material breach of multiple provisions of that agreement” and appears to have made “false and misleading representations” when entering into the agreement, according to a letter from Mr. Musk’s lawyer filed with securities regulators.

The…

Elon Musk

is seeking to terminate his $44 billion agreement to buy
Twitter Inc.,
saying that the company hasn’t provided the necessary data and information he needs to assess the prevalence of fake or spam accounts, according to a regulatory filing Friday.

Twitter “is in material breach of multiple provisions of that agreement” and appears to have made “false and misleading representations” when entering into the agreement, according to a letter from Mr. Musk’s lawyer filed with securities regulators.

The filing caps nearly two months of high-stakes suspense over Mr. Musk’s intentions, while setting up a possible legal battle over what comes next for the social-media platform.

Twitter didn’t immediately respond to a request for comment. The company has said repeatedly in recent weeks that it was sharing information with Mr. Musk to consummate the deal as laid out in the merger agreement—and that it intended to close the transaction and enforce the agreement at the agreed price and terms.

Mr. Musk’s lawyer cited concerns over Twitter’s estimates about how many of its daily users are fake or spam accounts as an issue Mr. Musk raised as a concern about the deal almost three weeks after he signed it.

(More to Come)

Write to Meghan Bobrowsky at Meghan.Bobrowsky@wsj.com

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